June S&P Futures: The market is headed for 1350. Short term resistance is at 1335 while support is at 1320.
June Bonds: I think a move to 107-16 has started.
June 10 Year Notes: I think a move to 106-00 has started.
Euro-US Dollar: I don’t think the market will move much past 127.50 before beginning an extended drop. Short term support is at 126.45 and weakness below there will mean a big break has started. I think the next big move should carry from here to below 116.
Dollar-Yen: The market will probably continue down to 110.20 before a big move up begins. Resistance today is at 112.00.
June Crude: The upside target at the 74.30 level, the 7 5/8 multiple of the all time low at 9.75, has been reached and I think the market is on its way below $60.
June Gold: Any drop below 675 support will indicate the start of a move below the 600 level. In the meantime resistance above the market is at 687.
July Silver: I think silver has started a move to 920 or so. Resistance above the market is at 1445.
Google: It looks like the drop from 455 is only the first phase of a three phase correction. I expect a rally into the 425-430 zone and then another drop to 360 or so. I still think GOOG will make it to 495 before it drops below 331.
No comments:
Post a Comment