September S&P E-mini Futures: Today's range estimate is 1055-1075. A new upward leg in the bull market has started from the 1003 low. Initial target is 1100 or so
QQQ: A new upward leg in the bull market has started. Initial target is 47.50.
TYX (thirty year bond yield): Long term support is at 3.85%. The bonds will soon begin a move to 5.40%.
TNX (ten year note yield): Long term support is at 2.90%. I think that the notes will soon begin 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 87.00.
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. But any weakness below 1150 will mean that a drop to 875 has begun.
SLV - July Silver: I think silver will rally to 21.50 and then begin a move to 10.oo.
Google: The 430 level is now 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.
3 comments:
I guess the comments column going to be rather quiet now that the bears are in hiding. So, just come in to say: Thank you for your guidance all these while Carl :-)
I know it's too soon to claim victory but still it would be nice if some of the nasty commentators would come out and say one or two good things about you!
Good job man!
The drop which began on April 26 appears to have ended on July 1. The rally which began on July 1 should not have a significant reaction until SPY reaches 110.7 which is consistent with Carl's initial targe of ES 1100 or so.
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