In recent trading sessions, Emini S&P June futures experienced a decline to the anticipated support level at 5050/40, precisely aligning with forecasts. This pinpoint accuracy in prediction underscored the day’s trading strategy, culminating in a notable low exactly at the projected level.

For traders of Emini Nasdaq, the advised strategy to initiate short positions below the 18000 mark proved highly effective, yielding substantial returns as the index reached the targeted profit-taking zone at 17680/670. This movement facilitated a robust gain of approximately 300 ticks. Similarly, Emini S&P futures demonstrated expected behavior by breaking through the 5140 threshold, subsequently descending to the 5050/40 support zone, thereby enabling a swift 900 tick profit for short sellers.

Looking ahead, traders holding long positions should consider 5080 and 5110 as immediate targets, with further potential gains up to 5140/50 if the upward trend persists. It’s crucial to note that substantial resistance lies at 5150/60, necessitating stop orders above 5170 for those in short positions.

Turning our attention to Nasdaq June futures, the indices significantly declined, validating the short-term sell signal initiated near the 18050/18000 range. The subsequent targets for profit-taking on short positions were effectively met at 17840/830 and 17680/670.

Currently, long positions have been established at the 17640/580 buying opportunity, with yesterday’s trading confirming this level as the day’s low. Investors should place stop orders below 17500 to safeguard against potential losses. Moving forward, targets are set at 17830 and 17950, with resistance anticipated around 18000/18100, and shorts advised to place stops above 18200.

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