September S&P E-mini Futures: Today's day session range estimate for the September contract is 1274-1286. I think the drop from 1373 is ending now. A sustained swing up above the 1400 level will be the next significant development.
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: I believe the 139.68 low will hold and that the market is headed back to 150.00 and higher. Support now is at 144.50.
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.
July Crude: It looks like the trend is 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 – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1430.
SLV - July Silver: Resistance in silver is 41.50. An strength above 43.00 would mean that the market is headed above 50.00.
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.
5 comments:
I think this time we are reaching some extreme readings on the Put/Call Ratio we are at 1.04 intraday, and it's quite unusual to have more puts than calls (except during crashes)...
Spiral Calendar should now be pointing to a blowoff move into August 13-15.
We'll see.
-Dave
So now you have a busted channel.
As i said, that's all you do. Keep revising the numbers lower...keep calling for a bottom. yada yada ada. Are you really contrarian????
AAI retail investor sentiment is now up to 48% Bears and just 24% Bulls.
I also noticed that wrong way Corrigan "Daneric" now has his Elliott Wave count once again in PRIMARY WAVE 3 DOWN.
Whenever he has labeled his count as such, it has been a HUGE BUY SIGNAL!
Continuation of lower lows and lower highs. Interesting inflection point, Carl.
Methinks we are going lower.
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