June S&P E-mini Futures: Today's range estimate is 1330-45. 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: The market broke support decisively on Friday. This means that it is headed for 137.00. However I still think it is likely that it will reach 150 and above during the next few months.
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 81.80.
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. That subsequent down leg should carry crude down to 88.
GLD – June Gold: Gold will rally to 1530 and then drop to 1430. I think that gold will trade above 1600 during the next few months.
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:
Carl, on gold did you mean to say "Gold will rally to '1530' and then drop to 1430"?
Thanks for providing your market outlook on this site.
Below is a link to an article entitled: "Why Apple is going to be worth $2 Trillion"
http://www.marketwatch.com/story/why-apple-is-going-to-be-worth-2-trillion-2011-05-09?dist=countdown
Carl, when do you expect Apple to peak?
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