September S&P E-mini Futures: The complete recovery of the drop triggered by Friday's bearish employment report is very bullish action. I think the ES is now headed for 1145-50. Today's range estimate is 1117-1132. I think that a new upward leg in the bull market started from the 1003 low made July 5.
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 now at 85.50.
September Crude: I still think crude oil is headed for 50.00.
GLD – December 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 - September Silver: I think silver will rally to 21.50 and then begin a move to 10.oo.
Google: The 470 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.
2 comments:
GM!
Absolutely convincing guess estimates.
Learning alot from YOU.
Thank you, Sir.
I enjoy reading your forecasts, and you've done an excellent job of getting people into some of the recent dips in the market.
However, you've been so wrong on the ten year and thiry year treasury markets. At what point would you consider yourself to be wrong and what implication would this have for the stock market?
Thanks for sharing.
John
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