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.
hi carl
ReplyDeletei 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