March S&P E-mini Futures: Today's range estimate is 1308-1320. Next upside target is 1328. By the end of April this market will have traded at 1380.
QQQQ: I think the market will rally to 58.50.
TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.
TNX (ten year note yield): The 10 year yield is headed for 4.50%.
Euro-US Dollar: I think the euro will move up to 145.00.
Dollar-Yen: A drop into the 78.00 - 79.00 range is underway and I think an important low will form in that zone.
March Crude: I still think crude oil is headed for 50.00. The 91.50 level is strong resistance because it is the midpoint of the 2008 drop from 147.80 to 35.00.
GLD – April Gold: A move to new highs is underway. 1495 is the next upside target. Support is at 1315.
SLV - March Silver: The upside target at 31.00 has been reached but there is still no sign of a top. Next upside target is 36.00. Support is at 25.50.
Google: The 540 level is support. A move that should take GOOG above 700 is underway.
Apple: Has reached the 350 target. Next upside target is 375. Support is at 310.
2 comments:
One of the metrics I watch, is the distance between the index and its 200 EMA. 7% is the max distance between sp500 and its 200ema in the past.
With yesterday's SP500 price level,7 % level is reached. I believe the market has hit a short term peak.
R
Correction to my previous comment.
It is the distance between 50 ema and 200 ema, which historically peaks at about 7 %.
Sorry abt the mistake.
R
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