Spiders - June S&P E-mini Futures: The market has nearly reached the 1430-40 zone. I think a break of 60 points or so will begin in a few days.
QQQ: Support is at 46.50. I think the Q’s will move into the 50-51 zone.
TLT - June Bonds: I think the bonds are on the way down to 112. Resistance is at 117-28. I think TLT will drop to 88.
June 10 Year Notes: I think the notes are on the way down to 112.
Euro-US Dollar: The weakness late last week means that the market is about to drop to the 140 level. Resistance is at 158.00.
Dollar-Yen: The yen is headed for 112.00. Support is now at 101.15.
XLE - OIH - USO – June Crude: The market has stalled at the 126 level but no break has materialized yet. A close above 127.50 will make move up to 136 very likely.
GLD - June Gold: The market should drop into the 750-80 range. Resistance is now at 915.
SLV - July Silver: It looks like the silver is headed for 1550 or so.
Google: Google now has support at 560. I think a big move upward is underway. Next short term upside target is 640.
3 comments:
136 for crude makes more sense most probably you will revise it to 148 in the coming days and finally at some point it will correct 10 dollars.
Best
"I think a break of 60 points or so will begin in a few days."
This statement is inconsitent with your 3 peaks and a domed house analysis. If point 14 has been reached, next stop is a straight shot (no sizeable pullbacks) up to point 15, which is roughly at the level of point 7, the "third peak, corresonding to INDU 13750, and SPX 1525. From Tim Wood's description, "After point 14, the average shoots up in a fast, short-lived advance, ending at 15. This is called the Wall of the First Story of the house. The Roof of the First Story follows point 15."
I understand that there's the "idealized" pattern and the real life scenario, but an S$P drop of 60 points contradicts your big picture analysis. Care to elaborate? -bb
Hi Carl,
I still think we're in a final spike ending in a couple months at about 14570 DOW. No large reactions in the cards now.
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