September S&P E-mini Futures: Switching to the September contract today - it trades 5 points under June. Today's range estimate is 1269-1282. 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.
1 comment:
We've seen this picture before...
Chart here:
http://4.bp.blogspot.com/-Ic7n9fCum7k/TfD0ToE_YLI/AAAAAAAAAUM/yhrqt_MANVY/s1600/normal.png
Don't let anyone tell you this market is bearish.
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