ESM11 – June E-Mini S&P (Last:1339.00)

June E-Mini S&P (ESM11) price chart with targetsThe high of yesterday’s rally and the six hours of sideways pooch-screwing in after-hours trading have fallen just shy of Monday’s 1341.25 peak, suggesting that buying enthusiasm is dubious at best.  No matter, though, since the resistance seems likely to be surmounted by yet another volume-less short-squeeze overnight or on the opening.  The thrust would have to clear the look-to-the left peak at 1347.00, however, to get on our radar. We remain short one contract from 1358.25, stop 1363.00.