June S&P Futures: I expect the market to hold support at 1304 and then rally to 1328.
June Bonds: The market is headed for its next short term target at 108-16. Resistance is at 109-14.
June 10 Year Notes: The notes are headed down to 105-16. Resistance is at 106-20.
US Dollar -Euro: The market is now headed down 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: I think gold has a good shot at 600. Meantime 579 is support.
May Silver: Silver traded at1194 this morning and is now getting close to support at 1140. Upside target is 1205 after which I anticipate a big 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:
You might finally be correct re Crude Oil.
By my calculations the Australian share price Index (SPI) will top on Monday (3rd April) at 5157..ie Time & Price will be balanced here (from the 2679 level bear market low)..there will then be a 500 odd point retrace back to just sub of the 4600 level...before any significant bounce can occur.
Since the SPI has been driven by Oil.Gold Copper & silver futures ...i am assuming these will also weaken from here (i dont have the necessary data to do the calcs on this group).
Ironically I see you have just turned bullish on Gold & silver after a Long time predicting they were about too top...I also noticed the ECB (euro Central Bank) sold 56 tons of gold Friday Night (maybe they know something you dont )...either way we are close to a pullback on commods in general here & the aussie futures index will top on Monday (imo)
I'll back my Sqare9 Calcs Versus your Darvas boxes this time definitely ,re Gold, Silver, based on the aussie spi
For oil we are in agreeance atm(fwiw).
Michael
Dated 1 st April 2006
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