June S&P E-mini Futures: Today's range estimate is 1198 - 1210. A swing to 1270 is now underway.
QQQ: A move up to 54.00 is underway.
TYX (thirty year bond yield): I think this market is headed for 5.40%.
TNX (ten year note yield): I think that the market has begun a swing up to 4.50%.
Euro-US Dollar: Support is near 131.00. Resistance above the market is at 141.00. Looking further ahead I think that a drop to 125 is likely over the coming months.
Dollar-Yen: A rally to 100.00 is underway. Support is at 90.00.
June Crude: I still think the next big move will take crude oil to 50.00.
GLD – June Gold: The longer term trend has turned downward. I expect gold to drop to 875 over the next few months.
SLV - May Silver: I think silver has started a down move that will carry it to 10.00 over the next few months. Resistance is now 18.30.
Google: A move that should take GOOG above 700 is underway. It now looks like the drop from the temporary high at 630 will continued down to 505.
Apple: Should reach 350 (at least) before the bull market ends. Support is at 240.
6 comments:
We will open red this morning. So for ppl who share the same bullish bias as Carl, today may be a good day to buy at the low range. If we close higher today in spite of the fear/sovereignty trade, the bullish case will get stronger .
My thoughts have aligned with Carl's when he called for the market to move higher, conditioned that it will follow the YBR( Yellow Brick Road), Market multi-year outline. Market has followed it very nicely. Picture can be seen at our site.
In January, we decided that AHAP1=1230 for SPX and AHAP1=50.75 for QQQQ will stop this market and if not the AHAP2=1277 will do it for SPX. So, while I consider the possibility of 1270 Carl's call , I view the probability not very high at this time as the SPX was not even able to go above W. D. GANN hidden AP 1217. In fact, it is at least 50% that we have seen the TOP.
IN fact, if this turns out the way it looks, soon DOLLAR, STOCKS and US BONDS will be all declining, which sums up into something called
"SELL AMERICA"( as much is this hurts my USA holdings).
Good Trading ALL,
Our low for today could align with 1192
I believe we just had a supply shock. Just borrowing Carl's terminology here.
The correction is already started.
ugh. another chance to make a decision -119.3-
This market could go to 1177,
which would equal DLAP5 ( daily low Attraction Point 5).
Which is , as far as probabilities go, an event comparable to the earthquake of degree 8+ on Richter scale.
Good Trading All
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