June E-mini S&P 500 Poised to Breakout over 1088.75.

The June E-mini S&P 500 has stopped three times at 1088.75 since Friday. A breakout through this price could trigger a sharp rally.
The June E-mini S&P 500 has stopped three times at 1088.75 since Friday. A breakout through this price could trigger a sharp rally. Weak stops have to be building above this level.

The daily chart suggests that this market could run higher following Tuesday’s closing price reversal bottom. ‘

A downtrending Gann angle at 1102.75 is the first upside target followed by the minor retracement zone at 1105.75 to 1122.00.

Watch the order flow when this market approaches 1088.75 to see if there is still a big seller in there. Holding above this price could attract fresh bids.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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