Spiders - June S&P E-mini Futures: Twice during the past two days the market has dropped to 1370-75 and then rallied. I think this means we shall see more of a rally to 1400-10 before the drop to 1340 resumes. From the 1340 low the S&P is likely to rally to 1500.
QQQ: I think a drop to support at 46.50 is underway.
TLT - September Bonds: I think the bonds are on the way down to 111. Resistance is at 117-28. I think TLT will drop to 88.
September 10 Year Notes: I think the notes are on the way down to 111.
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: Crude is on its way into the 112-115 zone. Resistance above the market is at 134.
GLD - August Gold: I think gold is headed for 750.
SLV - July Silver: I think the trend in silver is downward and will carry the market at least to 1400.
Google: I still think Google will drop to 515 or so before resuming its uptrend.
3 comments:
Nice bullish development here is that the 45 day cycle and the 10 day cycle are now both "right justified" on the chart.
Signaling rally should continue into late June/early July.
Hi Carl,
are you still keeping your short term target on QQQQ at 46.50 despite todays rally?
Nice change of "short term" posture on the SP, this AM. Your call was right on, congrats!
Don Ewers
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