Spiders - June S&P E-mini Futures: Support is now at 1310. We shall probably see at 1380 print before another 50-60 point break occurs. The market should rally into the 1430-50 range over the next couple of months.
QQQ: The Q’s have support at 41.70. A rally to 47.50 should begin soon.
TLT - June Bonds: Resistance is still at 120-20 and I think the bonds will soon begin a drop to 112. I think TLT will drop to 88.
June 10 Year Notes: Resistance is at 120-00. I think the notes will soon begin a move to 112.
Euro-US Dollar: I think a reaction has started that will carry at least to 150.00 or so and probably lower than that.
Dollar-Yen: The yen will probably make it down to 93.50 before a good rally begins. Meantime resistance stands at 101.20.
XLE - OIH - USO – May Crude: I think a break of at least $20 has begun.
GLD - June Gold: The market should now be headed for the 750-80 range. Resistance is at 960.
SLV - May Silver: It looks like the silver is headed for 15.50 or so. Resistance is at 1825.
Google: Google still has support at 420 and I think the next big move will be upward.
2 comments:
Carl, the Euro trades above 1.5700.
Sorry but the turning point you were looking for was 1.5500 which sharply reversed. How can you look for at least 1.50 when the (Your)pre-condition for this forecast does not exist ?
regards
Mohammed
Hi Carl,
How would you trade Euro? Would you simply stay out or use very tight stops? A few days ago it was below 1.55 now approaching 1.58...Would options trading be a better idea? Thanks
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