September S&P E-mini Futures: Today's day session range estimate is 1298-1315. I think The ES established an important low Friday at 1278.50 and that a sustained rally has started. I expect to see the market above 1400 during the coming 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: I think this market is now headed for 1.5300. Support is at 142.00.
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.
August Crude: A rally to 103-104 likely.
GLD – August Gold: Upside target is 1630. Support is at 1520.
SLV - September Silver: Resistance is at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.
Google: I think a move to 750 and above is underway.
Apple: Upside target is now 415.
6 comments:
ISM number today is showing economy is dead or in a recession.
Most likely low target
1286 EMINI
Good Tradng All
sorry, mistake
1262 Excuse me for typo
I placed orders to buy at 1267.80...
The market looks really nasty today. The market is in a slump with a decent advance decline ratio. This is a very bad omen. The debt talks made a dent on the economy. The ISM index today is proof that the economy has ground to a halt. The delayed debt agreement is no doubt to blame for this, when politicians argue, business confidence is destroyed and investors hold onto their cash. You can't have an economy growing when the deficit is being debated for 3 months long or debt in Greece. It totally destroys business confidence which in turn destroys the economy and the stock market. I sure hope all the debt issues go away or we are heading into a recession, investors will close their wallets and bring about a recession.
As Carl says, we are going to 1400. Damn the torpedoes, defaults, credit ratings or whatever!
We can always count on the fact that the stock market is of, by and for of bull-heads!
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