June S&P E-mini Futures: Today's day session range estimate is 1546-59.
The Cyprus news yesterday couldn’t drive the market below its Sunday night low
at 1529.50 and yesterday’s drop has now been completely retraced. 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 headed for 1.2700. Longer
term upside target remains 1.40.
Dollar-Yen: I think this bull market has further to
go, probably to 100-01.
April 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.
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