June S&P E-mini Futures: I again estimate that today’s daytime range will be 30 points or so with the low near the 800 level. The market is getting close to the 840 target and I think that we shall see more and more sideways, trading range action as that target is approached.
QQQ: The 29.00 level is now support and I think the Q’s have started a move to 35.00.
June Bonds: I don’t think the longer term bearish picture has changed. Resistance above the market is 132-16. Next downside target is 117.
June 10 Year Notes: I think a bear market in the notes is underway. Resistance above the market is at 125-20. Next downside target is 118.
Euro-US Dollar: I believe that the euro is headed for the 141.00 level. 130.50 is support.
Dollar-Yen: Then yen will probably react to 94.20 and then head for the 104.00 level.
May Crude: I think 40.00 is support for May crude and that the market is on its way to the 58.00 level.
GLD – April Gold: I think the market is headed below 700. Resistance above the market is at 955. A close above the 960 level will flip me back to the bullish column and mean that a move to 1100 is underway.
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.
1 comment:
u seem to absolutely believe your 840 target--maybe its 900. There is lots of external input fed etc..going on..and then it will crash when they realise it will all take time
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