Up to 1000 ticks profits on the short Emini S&P 500 trade [Video]
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Emini S&P June futures shorts at strong resistance at 5145/55 worked perfectly as the index crashed 100 points yesterday.
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.Emini Nasdaq collapsed from just below my resistance at 18050/18150.
Emini S&P has recovered all the losses and bounced 100 points to 5,134
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Shorts at strong resistance at 5145/55 worked perfectly with a high for the day exactly here before the index crashed to my targets: 5130, 5110, 5090 & even 5050 !!
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A great call!!
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We should have support at 5050/5040 (with a low for the day almost exactly here yesterday) & longs need stops below 5025.
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Targets: 5080, 5100, 5110.
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If we see a very strong bounce we should meet strong resistance again at 5145/55.
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A break lower is a sell signal & sees 5035/45 act as resistance to target 5020 & 5010/05.
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A break below 5000 is the next sell signal targeting 4985 & even 4970/65 is possible.
Nasdaq June futures caught me out as we shot higher to 17,717
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We headed lower as expected but unfortunately could not quite reach strong resistance at 18050/18150 although targets of 17850, 17750, 17650 were all hit.
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Holding below strong resistance at 17570/630 keeps the pressure on for 17330/300, perhaps as far as 17150.
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Shorts at 17570/630 stop above 17680.
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