Germany Bans Naked Short Selling - Emini Futures Down In Overnight Trading

The European Union handed Greece 14.5 billion euros which brought in early buying as the days session began. Then more news out of Europe, Germany specifically, caused the euro to slide, taking the markets with it. Germany announced it is banning naked short selling in certain stocks causing the euro to resume it’s downward spiral. The markets soon followed closing the day at the worst levels of the day. Overnight, the emini futures are trending lower as the European markets continue down in Wednesday trading.

S&P 500 ES Emini Trading Tuesday Recap - ESM10


The ES Emini futures June contract put in a high Tuesday of 1147.50, two points above the R1 level (1145.58) in our numbers posted last night. The low for the session came in at 1115.25, three points below the S1 number posted last night, 1118.08. The ES closed the day at 1118.75, almost exactly on our S1 number posted prior to the open! The ES closed down -15.75 points on the day.

The ES June Emini support and resistance and pivot point are listed below for Wednesday’s session.

R4 1223.92
MP 1207.79
R3 1191.67
MP 1175.54
R2 1159.42
MP 1149.25
R1 1139.08
MP 1133.13
PP 1127.17 Pivot Point
MP 1117.00
S1 1106.83
MP 1100.88
S2 1094.92
MP 1078.79
S3 1062.67
MP 1046.54
S4 1030.42

Dow YM Emini Trading Tuesday Recap - YMM10

The YM Emini June contract put in the days high at 10698, nine points above last nights posted R1level. The low of 10461 during the session was two points above the posted S1 level as the YM tumbled down a total of -109 points on the day closing at 10490.

Below are Wednesday’s support and resistance Dow emini levels for tomorrow:

R4 11260
MP 11142
R3 11023
MP 10905
R2 10786
MP 10712
R1 10638
MP 10594
PP 10549 Pivot Point
MP 10475
S1 10401
MP 10357
S2 10312
MP 10194
S3 10075
MP 9957
S4 9838


NASDAQ Emini NQ Emini - NQM10

The NQ June Emini high for the day on Tuesday was 1932, stopping squarely on our R1(1931.83) number posted last night before pulling back. The low of the session was 1876.75, bouncing back up to the close of 1888, losing -25.50 from the previous close.

NQ Emini June support and resistance levels and pivot point for tomorrow.

R4 2064.67
MP 2037.34
R3 2009.42
MP 1981.79
R2 1954.17
MP 1937.63
R1 1921.08
MP 1910
PP 1898.92 Pivot Point
MP 1882.38
S1 1865.83
MP 1854.75
S2 1843.67
MP 1816.04
S3 1788.42
MP 1760.79
S4 1733.17

Russell 2000 Emini Trading Recap - RJM10

The Emini Russell 2000 June contract topped out in Tuesday’s session at 706.60 just shy of the R1 level(707.67). The low of the day was printed at 677.50, two points below the S1 level(679.27) posted last night. The RJM10 closed the session at 683, down -12.10 from Monday’s close.

The Russell Emini June contract support and resistance levels are as follows:

R4 776.33
MP 761.78
R3 747.23
MP 732.68
R2 718.13
MP 709.35
R1 700.57
MP 694.80
PP 689.03 Pivot Point
MP 680.25
S1 671.47
MP 665.70
S2 659.93
MP 645.38
S3 630.83
MP 616.28
S4 601.73

Emini Trading Economic News For Wednesday, May 19th

Core CPI 8:30 EST
Crude Inventories 10:30 EST
FOMC Minutes 2:00 EST

Yahoo Economic Calendar