June S&P E-mini Futures: Today's day session range estimate is 1575-88.
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: Friday
the market broke out of its long trading range to the downside and the drop
continued in Asia and Europe this morning. It looks like an extended bear
market has begun. Initial downside target is 1200-50 while resistance above the
market is at 1480.
May Silver: Support is at 26.00 has been broken
decisively and an extended wont trend is underway. Initial downside target I 20.00
while resistance above the market is at 27.00.
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:
Hats off to your call on crude! While it has not yet materialized fully, i think you were the only one that I have seen who was saying it is headed to 70 when it was close to 100.
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