Play for Tuesday, June 2nd

Momentum slowed down after US close last night on most indices. Also, to be noted is how the FTSE failed to break above the 4500 resistance while almost every other index did experience a break through (S&P above 930, DAX above 5000, and so on).

I'll be looking for an intraday buy signal today: we could see a 50% to 61.8% retrace from Friday's lows today which could take us as low as the 4430s though. Please see the updated trendline chart below.