June S&P E-mini Futures:
Today's
range estimate is 1329-1342. The ES reached the top edge of the 1310-20 target
zone last night. I think the end of the drop from 1419.75 is imminent.
QQQ: Downside target is 62.50.
TNX (ten year note
yield):
The 10 year yield is back to the low of
its recent multi-month trading range. I still think that the 10 year yield has
started a move to 3.00%.
Euro-US Dollar: The Euro has rejected
the 1.3300 resistance level. The market is headed for 1.2600.
Dollar-Yen: This market is headed
for 75 and lower.
June Crude: Support at 100 has
been decisively broken. It looks like the market is headed down to
75.
GLD – June Gold: I think
the market will pay a visit to the vicinity of the September and December low
points at 1544 and 1529 before another up leg starts.
SLV - July Silver: I think the market will pay a visit to its
December low at 26.27 before reversing.
Google: Google is now headed
for its 2007 top near 750. Support is at 590.
Apple: AAPL
is headed for 520. From there a move
above the 644 high will start.
2 comments:
end of the drop!
great
Hi Carl
Im just noting the transports which have so far managed to hold the sideways pattern that both the spx and the dow has failed to do . so far we have 5 reversals which may count as points 15 through 20
looking at the oversold readings it is possible to consider the dow at point 20 also yet it does take some creativity to see it .the dow counts better as point 18 or point 16 yet ill give this possible point 20 some merit as long as we begin to see some strength soon
as for the spx weekly from an Elliott wave perspective , wave 4 probably complete or nearly so
wave 5 could be beginning . they both dove tail .
Just my thoughts
Joe
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