June S&P Futures: The market is on its way to 1328 and higher. Support today is at 1309.
June Bonds: The market is headed for its next short term target at 108-16.
June 10 Year Notes: The notes are headed down to 105-16.
US Dollar -Euro: The rally from yesterday’s low at 119.78 now looks like the third phase of the move up from 119.51 and as such should reach the 121.20 level. Then the market should turn downward to 118.90. After that a move to 125.00 becomes likely.
May Crude: 66.95 is resistance and the next significant move will be downward to 56.80-57.20. I think that over the next few months the market will drop to 52.00 or lower.
April Gold: The market traded about $6 above my 574 target overnight and reached a new bull market high by a dollar or so. Nonetheless I think the next big move will be downward from here and resistance today will be at 583.
May Silver: Silver traded at1152 this morning, way above my 1108 target. Even so I think the market will close below 1140 today and begin a sustained drop.
Google: I am convinced that GOOG is on its way to 405 and then to 440 although a move to 495 no longer seems likely. Support is at 377.
1 comment:
Carl, I read your informative and insightful posts everyday. How does the 5.3 million new shares now affect the GOOG stock price?
Nate.
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