June S&P E-mini Futures: Today's range estimate is 1337-50. The ES is headed for 1400 and above over the next few months.
QQQ: Upside target is 63.00.
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: There is still no sign of a top. Support is now 145.00 and as long as the market doesn't spend more than a couple of hours below that level I am going to stick with my upside target at 143.50.
Dollar-Yen: The market is headed down to 70.00.
June Crude: It looks like the trend is now downward. Support is at 94 and I think the market will rally to 106 or so before another down leg develops.
GLD – June Gold: Despite the 100 dollar drop the trend direction is ambiguous. Today's close will give me more information. .
SLV - July Silver: Support in silver is at 31.50. The 35% drop makes a downtrend obvious but it is nearly complete. The market should rally to 44.00.
Google: GOOG is headed for support at 495 from which point the move to 700 and above will resume.
Apple: Next upside target is 410. Support is at 310.
2 comments:
point 27 from what i have researched tends to be relatively short lived . given that im looking at this 3 peaks domed house pattern on a 60 minute chart
id have to conclude the the point of concern regarding this analysis is fridays high on the spx at
1354.36 which is labeled point 27
a move to the 1290 area in point 28is now expected .time wise im looking at may 16th 17th for the time period of the low .once point 28 is complete ( assuming im correct ) we start a new cycle and my opinion going forward will be decided by what the market shows me . bottom line : the market is always right .
food for thought we also had a 1 minute chart version of the 3 peaks domed house pattern trace out june 4th 5th . was a bit of a sloppy count yet it showed up
thanks
joe
UM TYPO WAS MAY 4 5 TH
JOE
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