September S&P E-mini Futures: I again am going to estimate today's day session range as 940-960. I think this rally will carry the e-minis into the 965-80 zone and eventually over the 1000 level over the next few months.
QQQ: The next upside target is 39.90.
TYX (thirty year bond yield): Support is at 4.20%. I think a swing to above the 5.00% level is underway.
TNX (ten year note yield): Support is at 3.25%. I think a swing up to 4.30% is underway.
Euro-US Dollar: There is no sign of a top. Support is at 137.50 and I think the market will continue upward to 146.00.
Dollar-Yen: The yen has reached the 92.50 downside target and soon will begin a move up to 105.00.
September Crude: The trend in crude oil is now downward and will carry the market to the 53.00 level. Resistance above the market is at 65.00.
GLD – August Gold: Still expecting a move to 1070. Support is at 900.
SLV - September Silver: Silver is headed to 1700. Support is at 1250.
Google: Support is at 395. Next upside target is 500.
2 comments:
Don't you see any connection between the crude oil price and the trends at the stock market? I mean that the recent rally in the stock market started at $55 in crude oil price. Now crude is at $64 and you estimate $53. Is it possible a stock market to go up and at the same time crude oil to go down so much?
The crude oil, as also the market, is going up is due to actions of the FED to destroy the dollar. The inverse relationship between dollar and the markets is due to a rightly feared scenario of hyperinflation.
This market manipulation game of Bernanake will end the day the market also starts going down with the dollar, i.e. when the current inverse relationship ends. But, when will that happen?
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