Spiders - June S&P E-mini Futures: The market has entered the 1350-75 zone. My best guess for exact support is now 1360. Resistance above the market today is at 1400. 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 - August Gold: August 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.
1 comment:
hi carl
i made my case the other day in regards to crude oil and while
perfect comparisons should always be looked at with some sceptism
i have posted the price of oil
compared to the nasdaq composite
when it was in its last 100 trading days . what makes this
more interesting to me is that i have a pretty important cycle turn
date on the stock mkt surrounding
this comparions perfect match
i posted it here if you interested
http://www.tradersaffiliates.com/WEEKLY%20UPDATE.htm
joe
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