June S&P E-mini Futures: Switching to the June contract today. I estimate that today’s range will be 708-733. I also think a move to 840 has begun.
QQQ: The 26.00 level is still support and I think the Q’s have started a move to 35.00.
June Bonds: I think the long term trend in the bond market is now definitely downward. Next downside target is 117.
June 10 Year Notes: I think a bear market in the notes is underway. Next downside target is 118.
Euro-US Dollar: The euro is headed down to 122.50.
Dollar-Yen: The yen has nearly reached the 100.00 level. There is as yet no indication that the move up from 87.00 is over, so I now estimate that the yen will reach 104.00 before a substantial reaction begins.
April Crude: The 30-35 zone is long term support. The 50.00 level is resistance. I think the market has started to stabilize.
GLD – April Gold: I think the market is now headed below 700.
SLV - May Silver: Silver is still holding 1240 support but I think this level will soon be broken. If it is the market will be on its way below 800.
Google: I think that its drop from 747 is over. Support is at 290. Next upside target is 410.
What was the reasoning to switching to the June future from March?
ReplyDeletei do not trade futures but i think its because usually you trade the most liquid contract. MC
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