June S&P E-mini Futures:
Today's
range estimate is 1291-1307. The October 2011 top at 1289.25 should prove to be
strong support. I think a base building period has started and that the end of
the drop from 1419.75 is imminent.
QQQ: Support now is at 59.50. The drop from 68.50
is nearly over and should be followed by a move to new bull market highs.
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.
July Crude: The market is headed down to
75.
GLD – June Gold: The
market has dropped to the vicinity of the September and December low points at
1544 and 1529. I think a sustained up move is about to start.
SLV - July Silver: The market is getting
close to its December low at 26.27 where a sustained move up is likely to
start.
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.
3 comments:
we are now 30 pt down from 1326 .. what does this prove in a day ?
are we in uptrend , to me it looks like a crash..
your eur/usd target was met today. What's next do you see on eur/usd? I see 1.22
Hi Carl
Food for thought
Oct 9 2012 is 831 calendar days from the July 2010 low .
oct 10 2002 low oct 11 2007 high
oct 10 2012 High ??
also looking at the overlay of the 1910 -1913 3 peaks domed house pattern we would look for a late sept early oct high . admittedly
i have some concerns but cant ignore the potential for a longer run then most would expect .
working on some comparisons with timing which has some Merritt comparing 1929 and 1987 targets oct 10 2012 as a high . for this to give me some confidence i would need to see the market rise into june 28th followed by a steep drop into july 9th . from now into June 28 could form a wedge pattern yet would be choppy to up .
way to early to call it but worth considering
Joe
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