September S&P Futures: I think the S&P’s are on their way to 1310. Support today is at 1272. A move to new bull market highs is underway.
September Bonds: The bonds will probably drop to 106-16 and then rally to 108-16. The market is headed for the 110 level.
September 10 Year Notes: The notes should find support near 104-20 and then rally to 105-20.
Euro-US Dollar: The market broke 127.10 support this morning so will probably drop a bit further to 126.40. Weakness below 126.40 would force me to abandon my 131.00 target and look for an extended drop instead.
Dollar-Yen: The yen is headed for 118.00. I still think the yen will reach the 130 level over the next year.
August Crude: Resistance today is at 74.50. The market has started a swing down to the low of its recent trading range near 68.00. I think that low will be broken.
August Gold: Resistance above the market is at 655. The 662 level is my target for the rally from 547.
September Silver: Resistance is at 1200. The 1270 level is still my target for the rally from the 945 low.
Google: Support is at 405 and I think GOOG will soon reach 430. I expect to see the market reach the 450-500 zone this summer.
1 comment:
Carl could the bull market be over in the equity markets? this action reminds me of 2000, if we do break out it will be hard and fast driven buy short covering then followed up my momentum players... but someone will be shaken out hard this year and its going to be ugly
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