Here are hourly charts of the June S&P futures, the Spiders, and the QQQQ's. I last commented on these markets here.
Yesterday's low point occurred a bit above the levels I was anticipating in that morning's guesstimate. In any case the rally to 1475 in the S&P's, t0 146.50 in the Spiders, and to 45.70 in the Q's is underway.
I think we shall see the S&P's and Spiders trade up to 1520 or so during the next couple of months. I am looking for the Q's to make it to the 50 level during the same time.
2 comments:
The 10 DMA of the issues advancing on the NYSE appears to be diverging. If that plays out, how would it affect your guesstimates?
Have you changed your stance on ES? from 1540 to 1520?
TIA
Pat
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