Neutralizing the Weakness in Stocks
E-mini S&P (June) / E-mini NQ (June)
S&P, yesterday's close: Settled at 5047.50, up 43.75
NQ, yesterday's close: Settled at 17,350.00, up 169.25
E-mini S&P and E-mini NQ futures broke a streak of six losing sessions. Yesterday's rally was broad, with chips like NVDA and MU rebounding firmly, and banks having a day, but it all comes down to earnings before Core PCE. Although the market will no longer depend on TSLA, which reports after the bell, this week's calendar is stacked.
Coming into yesterday, we had 5074.75-5078.75 as a major three-star resistance mark in the E-mini S&P, and a critical inflection point where the selling picked up later in the week; E-mini S&P futures must close above here in order to take the first step in neutralizing some of the selling. In the E-mini NQ, we have a similar mark at 17,517-17,552.
Bias: Neutral/Bullish
Resistance: 5058-5062.25**, 5074.75-5078.75***, 5095.25-5097**, 5101.50-5104.75***, 5119-5123.25***
Pivot: 5047.50
Support: 5040.75**, 5032-5034.25***, 5025.25**, 5019.25**, 5001.50-5006***, 4991.25-4994.25****, 4983.50**, 4963.50-4971.50**
NQ (June)
Resistance: 17,422-17,448**, 17,517-17,552***, 17,615-17,648**, 17,723-17,746***
Pivot: 17,331-17,350
Support: 17,234-17,273**, 17,148-17,182****, 17,106-17,114***
Micro Bitcoin (April)
Last week’s close: Settled at 66,610, up 2,255
Bias: Neutral/Bullish
Resistance: 67,170-67,595***, 68,132-68,590*, 70,149-70,800**, 71,795-71,815**, 72,110-72,530**, 73,410-73,600***
Pivot: 66,502
Support: 64,355-64,937***, 63,605**, 61,632-62,235***, 59,700-60,830****, 57,410-58.250***
Check out Blue Line Futures
bluelinefutures...om/2023-signup/?utm_source...
Email info@Bluelinefutures.com or call 312-278-0500 with any questions -- our trade desk is here to help with anything on the board!
Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.
Performance Disclaimer
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.
One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points that can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results all of which can adversely affect actual trading results.
S&P, yesterday's close: Settled at 5047.50, up 43.75
NQ, yesterday's close: Settled at 17,350.00, up 169.25
E-mini S&P and E-mini NQ futures broke a streak of six losing sessions. Yesterday's rally was broad, with chips like NVDA and MU rebounding firmly, and banks having a day, but it all comes down to earnings before Core PCE. Although the market will no longer depend on TSLA, which reports after the bell, this week's calendar is stacked.
Coming into yesterday, we had 5074.75-5078.75 as a major three-star resistance mark in the E-mini S&P, and a critical inflection point where the selling picked up later in the week; E-mini S&P futures must close above here in order to take the first step in neutralizing some of the selling. In the E-mini NQ, we have a similar mark at 17,517-17,552.
Bias: Neutral/Bullish
Resistance: 5058-5062.25**, 5074.75-5078.75***, 5095.25-5097**, 5101.50-5104.75***, 5119-5123.25***
Pivot: 5047.50
Support: 5040.75**, 5032-5034.25***, 5025.25**, 5019.25**, 5001.50-5006***, 4991.25-4994.25****, 4983.50**, 4963.50-4971.50**
NQ (June)
Resistance: 17,422-17,448**, 17,517-17,552***, 17,615-17,648**, 17,723-17,746***
Pivot: 17,331-17,350
Support: 17,234-17,273**, 17,148-17,182****, 17,106-17,114***
Micro Bitcoin (April)
Last week’s close: Settled at 66,610, up 2,255
Bias: Neutral/Bullish
Resistance: 67,170-67,595***, 68,132-68,590*, 70,149-70,800**, 71,795-71,815**, 72,110-72,530**, 73,410-73,600***
Pivot: 66,502
Support: 64,355-64,937***, 63,605**, 61,632-62,235***, 59,700-60,830****, 57,410-58.250***
Check out Blue Line Futures
bluelinefutures...om/2023-signup/?utm_source...
Email info@Bluelinefutures.com or call 312-278-0500 with any questions -- our trade desk is here to help with anything on the board!
Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.
Performance Disclaimer
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.
One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points that can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results all of which can adversely affect actual trading results.