June S&P E-mini Futures: Today's day session range estimate is 1540-54.
The Cyprus news hasn’t had more than a temporary effect on the market. This is a
bullish sign. I think the ES is headed to the high end of the current long term
resistance zone between 1546 and 1587. But I also think a drop of 10% or more
is likely to start within a few weeks.
QQQ: The Q's are headed
for 73.
TNX (ten year note yield): Bond yields are going much higher as
the market begins to anticipate stronger economic growth. The first upside
yield target for the 10 year is 2.50%.
Euro-US Dollar: The euro is scraping bottom for this
reaction. The next significant move should be upward to 1.40.
Dollar-Yen: I think this bull market has further to
go, probably to 100-01.
May Crude: As
long as crude does not spend much time above 100 I will stick with my view that
it is headed below 70.
April Gold: Support
is in the 1530-50 zone lows of this trading range
May Silver: Support is at 26.00.
Google: Now headed for 950.
Apple: Longer
term downside target is 350 and near term support is 390. Meantime resistance
above the market is at 480.
1 comment:
Carl,
That EUR/USD move to 1.27 was spot on. Hope you traded it.
Ever thought of adding the copper price as an indicator of risk sentiment?Down -10% YTD so although not foolproof, it doesn't support the equity rally in any meaningful manner.
Keep up the good work.
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