June S&P E-mini Futures: It appears that yesterday’s late rally started a move which should carry into the 965-980 range. I estimate that today’s day session range will be 930-950. The 952 and 979 levels are strong, midpoint resistance.
QQQ: The next upside target is 39.90.
June Bonds: A bear market is underway in the bonds. Next downside target is 115.
June 10 Year Notes: I think a bear market in the notes is underway. Next downside target is 115.
Euro-US Dollar: There is no sign of a top. Support is at 137.50 and I think the market will continue upward to 144.00.
Dollar-Yen: The yen will probably drop to 91.50 and then begin a move up to 105.00.
July Crude: Crude has nearly reached the 69.00 target level. Support is at 64.00 and continuation up to 75.00 is likely.
GLD – June Gold: The market is headed for new highs near the 1050 level.
SLV - July Silver: Silver is headed to 1700.
Google: Support is at 390. Next upside target is 450.
1 comment:
"It appears that yesterday’s late rally started a move which should carry into the 965-980 range."
Today was the fifth consecutive day that the close was greater than the open in the NDX.
Since the October 2007 high this count has reached five or greater ten times. In 80% of those occasions the following day the close was less than the open.
On the two occasions the count went further than five it reset after day six.
http://clearstation.etrade.com/cgi-bin/bbs?post_id=9056003
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