S&P 500 price levels to trade

[rimshot]

ES futures - $1274.25 = a major horizontal inflection level, based on the price history for the continuous contract

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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

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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]