Spiders - June S&P E-mini Futures: The market is on the way down into the 1350-75 zone. Resistance above the market today is again at 1410. After the reaction has been completed I expect to see a rally which will take the S&P’s to 1500.
QQQ: I think a drop to support at 46.50 is underway.
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: Resistance is still at 158.00. I think the market is on its way to 140.
Dollar-Yen: The yen is headed for 112.00. Support is now at 101.15.
XLE - OIH - USO – July Crude: I still think crude will reach 136 before a break of at least 10 dollars develops.
GLD - June Gold: June gold is headed back to 1000 and possibly to the 1060 level.
SLV - July Silver: I think the trend in silver has turned upward and that a move to 2000 is underway.
Google: It looks like Google will drop to 515 or so before resuming its uptrend.
7 comments:
Ok, so how did you arrive at the S&P 1350-1375 target at 8am eastern?
I'm not disagreeing with the answer, I just couldn't see that until more data arrived (after market open).
What is this "box theory" of yours? Some Darvas derivation?
Thanks
Mary
Good call on the SPY Carl
I think your forcasts are
pretty good. What I do not understand is, that you predict the US Dollar to go up against the Euro but the Gold/Silver to go up as well.
Is it not the if the Dollar goes down like it is now the Oil?Gold?Silver goes up and vice versa.
nice work on spx. I didn't expect it. What still remains to be seens is whether we're in 14-15 of 3 peaks and a domed house...
I don't understand how you get to 136 for a top (interim?) in $WTIC. I get 30 point boxes on the the 3 year weekly (with credible congestion at 15 point increments) Seems like 140 is the next likely turning point.
Could you show your box theory applied to the $WTIC? I've spent some time looking for 136 and I can't find it. Thank you. --bb
I think the market is headed for a crash....forget S&P 1500.
HI CARL
if your interested in my cycles work i have posted it here
http://www.tradersaffiliates.com/WEEKLY%20UPDATE.htm
overall the posts sentiment wise are positive i see yet there is 1
becoming negative which is nice to see .
keep up the good work
anonomous joe
HI CARL
im going to note this today
so when we get closer to the high
i can leave you with some impression of knowing what im looking at . i have a cycle turn date of june 9th on the stock mkt
and yet as i look at this date in regards to oil i found myself spending 2 hours researching the price oil . here is my thought
the price of oil based on the futures will peak in a price range
between 155.70 to 164.95 in the next 11 trading days .this leave a time period of june 9th to june 11th . from this high crude will them crash back to 101 in less than 55 trading days .
in the larger scheme of things crude oil will go back to 50 bucks
over the next 2 years . yet this initial crash will be the best short term trade as there will be 3reactions down the first will follow the peak over a 17 trade day period to around 115 with a bounce then another 2 that follow hitting the 101 level .the first leg down lasting an aproximate of 52 trading days . my guess is this will be veiwed as bullish the stock market .
joe
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