Spiders - June S&P Futures: Support in the Spiders is at 148.20 and in the S&P’s is at 1490. Next upside targets are151.00 in the Spiders and 1517 in the S&P’s.
QQQQ: Resistance in the Q’s is at 46.70 while support stands at 45.90. I am looking for a move up to 50.00 or higher over the next few months.
TLT - June Bonds: I now think TLT will drop to 85 before resuming its bull market. Resistance above the market in the bonds is at 111-20 and the next downward swing should carry the market to 108-12.
June 10 Year Notes: Resistance in the notes is at 108-10. Th market is headed for the 105-16 level.
Euro-US Dollar: The Euro is making a top at the same level as the December ’04 high of 136.66. I still think that the market will drop below the 130 level before it hits 137.50.
Dollar-Yen: The yen is headed for 123.50. Support is at 118.00. I expect to see the yen trade at 130 later this year.
XLE - OIH - USO – June Crude: I am expecting a top in XLE near 65 and in OIH near 165. USO is headed for 45. June crude has resistance at 66.80 and a move from there to 60.00 and lower should develop soon.
GLD - June Gold: I think GLD has started downward and will drop below 60 on its way to much lower levels. June gold has bounced off of resistance at 696 and is now headed below 600.
SLV - July Silver: SLV has bounced off of resistance near 141 and is on its way below 120. July silver is headed below the 1200 level.
Google: I think Google is headed for 564. Next upside target is 495 while support is at 465.
3 comments:
Csrl,
Your prediction that the QQQQ will reach 50 in the next "few months" does not jibe with your domed house of the Dow peaking in mid-May (May 17th is what I remember) do you expect the Nasdaq to de-couple from the Dow? The indexes generally track closer than that. Is there a domed house in the Nasdaq 100 that differs in schedule from the DJIA? All important questions.
Welocme back and congratulations on your successful surgery. --Bob
Dear Carl,
welcome back...glad to hear you're doing well!
Would it be possible to add another stock to your watchlist? Any gold stock - say NEM, or GG or KGC, or even the HUI Index. There's been a big divergence between the performance of the XOI index and oil during the drop from 80 to 50 in oil, and thus, I am curious as to whether you see anything similar in the case of the precious metals.
good to see all's well. it's nice to have the energy to watch the markets after surgery.
going back to my original request. why don't you write a post explaining what made you say that gold and silver would pullback. and, whereabouts will the pullback end and the uptrend continue.
in other words, write something similar to today's s&p post. thanks
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