September S&P E-mini Futures: Today's range estimate is 1093-1113. Support at 1103 has held so far but I now think that the drop from the 1129.50 top be 30-40 points. 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 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: A move into the 135-40 zone is underway.
Dollar-Yen: A rally to 100.00 is underway. Support is at 90.00.
August 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.
5 comments:
Mon’s 1131 bearish outside day filled the opening bull gap and retested the 1111 200 day MA after meeting the 1130 April 26 50% retrace and the low end of our 1125-1150 summer upside target. Daily momentum is turning down even as the weekly is turning up. Time for a pause? Stays bullish above 1106 support. Day support is 1111/1108. Short term support is at 1106/1102 followed by 1091/1089
So very OBLIGED for every support!
Naveedah: your ranges are interesting. Where do you get them from, Please?
Have to agree with Carl this time. Headed lower through next week.
we need longs to fuel a total collapse i am predicting.
iv, we need the longs more than ever, to fund it all, with what they made since March 2009, and some more! The party since March 2009 was funded by an insane government.
The waterfall will be powerful like the Niagara Falls because the HFT computers will exasperate it. The "bulls" will dive in as they are too greedy to watch it from the sidelines.
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