Stock, Option and Futures Trading

Stock, Option and Futures Trading

NQ 60 minute support and resistance


June 1st, 2011

We have had the 2370 as the NQ resistance for the last four days. Yesterday the NQ went to 2375 and we are now getting a sell off. It is going to be important to the bigger structure of the market if the NQ hold the support area at 2330-2320. We have to say this is still a bullish correction because 1) the last  wave was up 2) the bigger trend is up 3) all corrections to this point have resulted in higher highs.

The last low at 2300 was calculated so that puts support at the 2330 area. Depending on how large this current wave down is once it completes will allow us to drill down the support to a better more calculated level.

 

AAPL hit our $348 target today and the high of the weekly call was $12.00. We are out of this position.

No fill on AMZN calls

Happy Trading,

http://www.eMiniSchool.com

 

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