Emini Dow Jones: All-Time High Today's Most Important Level
Jason Sen | May 18, 2015 03:56AM ET
The Emini Dow Jones all time high at 18,270 is the most important level for today, of course. We are getting overbought and this is strong resistance but shorts need stops above 18,300. A break and close (preferably 2 closes to ensure this is not a false break) above here however signals the start of a new leg higher in the longer term bull trend to target 18,350/360 then Trend line resistance at 18,390/400. A break above 18.425 however could reach 18,470/480 then trendline resistance at 18,510/520.
We are overbought as stated above and could see profit-taking today. First support at 18,180/170 but below here risks a slide to 18,110/100. Try longs with a stop below 18,060. There is good support again at 18,020/18,010 but longs need a stop below 17,970.
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