September S&P E-mini Futures: Today's range estimate is 1065-1087 for the September contract. The 1036.75 low on May 25 ended the drop from 1216. I expect to see the 1300 level by the end of the year.
QQQ: A move up to 54.00 will be the next big swing.
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: The market is scraping bottom. Downside should be limited to 118.00 and then an extended move into the 135-40 zone should begin.
Dollar-Yen: A rally to 100.00 is underway. Support is at 90.00.
July Crude: I still think crude oil is headed for 50.00.
GLD – August Gold: The odds are that the market will continue upward to 1320. I still expect to see 875 before 1400. Support stands in the 1160-70 range.
SLV - July Silver: I think silver will rally to 21.50 and then begin a move to 10.oo.
Google: The 450 level is support. A move that should take GOOG above 700 will begin soon.
Apple: Should reach 350 (at least) before the bull market ends. Support is at 240.
7 comments:
Yesterday was another anemic rally that could easily reverse itself today.
Don't get sucked into being long. The action is this market remains bearish. Rallies are to be sold.
Great guess estimates!
Saw weakness,my o/n home work and then your most reliable blog so shorted 1080.50---1074.00,re s@1074--1070. 1070 is very strong support.
Thank you,sir.
Live long happily with your loved ones!
We also need you to be there always
to help and support us,Sir!
Great weekend!
The low for the day may be a lot lower than 1065.
Yesterday was uber bullish and the bipolar disorder of the market has been amplified by the HFT computers.
Maybe, it is time for a panic attack, after the exuberance of yesterday.
Follow the Hong Kong index. It's showing us direction.
Consider shorting close to 1078-1080... for the ride down to test 1068!
ex
I'm short at spy 109.35. Looking for a drop to 106.01
Judging by the comments on here, I would hazard a guess that the only panic attack will be to the upside. That coupled with the weak retail numbers today and the market still going up.. Weird, it must be a conspiracy, or perhaps it's just those pesky HFT computers again.
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