Spiders - June S&P E-mini Futures: The market is getting close to the short term upside target at 1390. The early February top was 1400 and I think we shall see at least one substantial reaction from that level before the market moves into the 1430-50 range.
QQQ: A rally to 47.50 is underway.
TLT - June Bonds: Resistance is still at 120-20 and I think the bonds are on the way down to 112. I think TLT will drop to 88.
June 10 Year Notes: Resistance is at 120-00. I think the notes are on the way down to 112.
Euro-US Dollar: I think the euro is heading for 149.00.
Dollar-Yen: It now looks like the low at 95.76 will hold. Next upside target is104.00. Support is at 99.00. T
XLE - OIH - USO – May Crude: I think a break of at least $20 has begun. Downside target is 90.00.
GLD - June Gold: The market should be headed for the 750-80 range. Resistance is at 940.
SLV - May Silver: It looks like the silver is headed for 15.50 or so. Resistance is at 1840.
Google: Google still has support at 420 and I think the next big move will be upward. Short term upside target is 490.
3 comments:
Hello
I would like to ask about the "Spiders - June S&P E-mini Futures" if the "substantial reaction from that level (1400)" means reaction towards lower prices.
Thank you
Carl, it's been a long time since you've assessed some of the stocks you follow. Any update on any of them soon?
carl--
right now what is driving the u.s. $ down is the belief that bernanke will continue to cut rates.....generally it takes nine months for the economy to react to large increases in the money supply (yes, i know its only been 8months since the fed has begun inflating) but since the amount has been on a massive scale, inflation figures will probably start to react a month early just as they have in europe (see reuters april 4th euro inflation pressures at 7-1/2 year high). when inflation numbers surprise to the upside on the 16th when the cpi is released the $ will move up, bonds, equities, pm's, oil, and grains will drop on a knee jerk reaction. kevinfischer2002@yahoo.com
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