June S&P E-mini Futures: Today's day session range estimate is 1575-87.
I still think that a break of 10% and possibly more is likely before the ES can
climb above the 1546-87 resistance zone by any significant amount.
QQQ: 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 has spent several days trading
above its 20 day moving average and it looks like a swing to 1.40 has begun.
Dollar-Yen: I think this bull market has much further
to go. However the market is likely to stall for a few weeks beneath resistance
at 100-101.
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.
June 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.
CNBS headlines like the following can make some traders to lose their focus on the current move in the market:
ReplyDelete"Goldman Plays Nostradamus, Sees S&P Surging By End of 2015".
Traders need to keep the focus on the current moves.
Carl, repetitious your statement, "I still think that a break of 10% and possibly more is likely before the ES can climb above the 1546-87 resistance zone by any significant amount." has been up there on your blog for quite a while. In the meantime, the market has made a significant move up.
Similarly, I have noticed that you make utterly bullish statements when the market is going in a downward direction.
Carl, it appears that you try to be ahead of the market, but really, if a trader were to follow your longer-term prophecies for trading, the trader will be bankrupt long before your prophecy comes true, like the prophecy by Goldman Sachs about the market being up by 20% by the end of 2015.