June S&P E-mini Futures: Today's range estimate is 1295-1308. The low at 1249 in the cash (1241.25 in June ES) ended the drop from the February top. The market is now headed for 1400 and above.
QQQ: I expect to see new bull market highs soon.
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: I think 83.50 is the upside potential. After that the drop to 70.00 should resume.
May Crude: Crude will continue upward to 112. Support is at 97.
GLD – April Gold: A move to new highs is underway. 1495 is the next upside target.
SLV - May Silver: Silver has reached the 36.00 upside target but there is still no sign of a top. Next stop is 39.50.
Google: The 540 level is support. A move that should take GOOG above 700 is underway.
Apple: Next upside target is 375. Support is at 310.
4 comments:
Earnings season will make or break this market. Can't see the market doing a lot until then.
Carl,
Your doomed house had a april 6, 2011 target. Have you looked at a weekly chart on spx or comp......ugly.......check out rut..macd cross and close to last peak.....and the 2007 high....put fork in.....I would get back in the house.......the doomed one that is as this look like 1233 spx top and 840 on rut....then look out below.
Carl,
I came accross this preface to a comment section from Barry Ritholtz's blog that I thought you mught enjoy: "Please use the comments [below] to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous"
regards,
joe
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