Forecasts & Analysis | Indices

The uptrend is strong and there is no resistance so it doesn’t make sense to keep selling rallies. When you do, you’re only feeding the bull.

Since the Dow is up 14 sessions from its last main bottom, it is vulnerable to a potentially bearish closing price reversal top.

Since there is no resistance, we’re going to continue to say “a trend is motion is likely to remain in motion until acted upon by a stronger force.”

The S&P 500 has rallied significantly during the trading session after the retail sales numbers in America came out much stronger than anticipated.

New York City-based investment bank Citigroup reported better-than-expected earnings for the first quarter, largely driven by improvements in the macroeconomic outlook and lower loan volumes.

The US100 – NASDAQ has been trading in an upper range indicating a strong uptrend. This is the case partially to Yen getting weaker.

With stats from the Eurozone limited to finalized inflation figures, economic data from the U.S and corporate earnings will be in focus today.

The direction of the June E-mini NASDAQ-100 Index into the close will be determined by trader reaction to 13975.75.

The direction of the June E-mini Dow Jones Industrial Average futures contract into the close is likely to be determined by trader reaction to 33570.

The direction of the June E-mini S&P 500 Index into the close on Wednesday is likely to be determined by trader reaction to 4132.75.