June S&P E-mini Futures: Today’s range estimate is 1590-1610. It looks
like market is headed for 1550. But if the ES can establish itself above
yesterday’s 1610 close I will conclude that a rally of 30-40 points is
developing first.
QQQ: Downside target is 70.00.
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 market has resumed its move up to
1.4000.
Dollar-Yen: The dollar-yen should hold support at
94.50. The next upside target is 107.00.
July Crude: As
long as crude does not spend much time above 100 I will stick with my view that
it is headed below 70.
August Gold: I
think gold is on its way to the next downside target at 1200-50. In any case
there is strong resistance above the market in the 1520-30 breakout zone.
July Silver: Initial downside target is 20.00 while
resistance above the market is at 27.00.
Google: Support is at 800 and I think the next step up will carry
GOOG to 975.
Apple: Next
downside target is 350. Resistance is at 460.
1 comment:
fixed yesterday and back to "upside" target today. Also 70 being below 70.40 (8 year highs) is below breakdown. A close below 70.4 should produce a lot more downside.
Post a Comment