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BlogsDAY TRADE IDEAS MAY 30th

MORNING MINUTE MAY 30th EQUITIES, FUTURES & OPTIONSUS Consumer Confidence (May) 102.3 vs. Exp. 99.1 (Prev. 101.3, Rev. 103.7) One year inflation expectations 6.1% (prev. 6.2%)

Darren Krett

Tuesday 30 May 2023

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US Consumer Confidence (May) 102.3 vs. Exp. 99.1 (Prev. 101.3, Rev. 103.7) One year inflation expectations 6.1% (prev. 6.2%) facebookUS Consumer Confidence (May) 102.3 vs. Exp. 99.1 (Prev. 101.3, Rev. 103.7) One year inflation expectations 6.1% (prev. 6.2%) twitterUS Consumer Confidence (May) 102.3 vs. Exp. 99.1 (Prev. 101.3, Rev. 103.7) One year inflation expectations 6.1% (prev. 6.2%) linkedin

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DAY TRADE IDEAS MAY 30th

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Equity Index

Emini SP 500, Nasdaq, Emini Dow Jones

30 May, 2023 Emini S&P June collapsed on Tuesday & Wednesday then recovered all the losses on Thursday & Friday as we play debt ceiling games. Shorts at 4160/70 stopped above 4185 for a retest of 4222/27 & a high for the day here. We hit4243 on the open but have eased back to fir’s high at 4220. If bulls remain in control we can target 4275/80, perhaps as far as 4300/05. WE should have support at 4210/4200. Longs need stops below 4190. Holding below 4190 should be more negative for this week & risks a slide to 4170/65. Nasdaq June higher as expected after the buy signal to hit my next target of 14250/300. We have now recovered 61.8% of the 2022 decline now. I would not bet that the 61.8% Fibonacci will hold at 14300. The close at the high of the week suggests further gains towards 14440 (hit on the open) & 14550, perhaps as far as 14750/800. Support at 14030/13960 although is looks unlikely we will fall this far. Longs need stops below 13900. Emini Dow Jones June reversed & won back Wednesday’s & Thursday’s losses. We tested 33000/33100, reaching 33200 but could not break above here. But a good chance we will on the open targeting 33280/300, perhaps as far as 33450/480. Support at 33050/33000. Below here however risks a slide to 32900/880.

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05 May, 2023 Emini S&P June has seen a big move to the downside from strong resistance at 4200/4210 exactly as predicted this week to te

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