ES futures - $1274.25 = a major horizontal inflection level, based on the price history for the continuous contract
--------------
YM futures data set as of 11:30 a.m. eastern time Friday June 1st:
Dow futures daily has:
1. 50% retrace from the high to the last November low at $12135
AND
2. 38.2% retrace from October at $12104
from the ToS chart platform:
YM 200day ema = 12437
YM 200week ema = 11419
YM 21week ema = 12623
YM 200month ema = 10646
YM 21month ema = 12017 - the 21month ema was violated only in May to Sept 2010 AND in Aug to Nov 2011
June 1st 11:30 a.m. comment - both of the retracement YM price levels represent potential support during this decline sequence - their cluster of horizontal proximity is meaningful to me ... a sustained decline below these YM levels of $12017 to 12135 will be a bearish chart event
since the YM 21month ema is discussed, the ES data is:
the ES 21-month ema = $1271.09 vs. today's low so far of $1280
June 1st 11:49 a.m. edt
------------------------
News item at 1:00 pm June 1st: Morgan Stanley ups chances of QE3 at June Fed meeting from 50% to 80% after poor US payrolls today [Dow Jones]
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.