September S&P E-mini Futures: Today’s range estimate is 1690-1700. The
market is gradually moving past the 1680-85 resistance zone. It now looks like
it will move well above 1700 before a break of more than 30 points can start. The
ES is headed to my long standing target of 1775 and possibly higher over the
coming months.
QQQ: Upside target is 79.
TNX (ten year note yield): The upside yield target for the 10 year
is 2.85 % but I think the market will move past this level to 3.50% over the
next few months.
Euro-US Dollar: The market has put in three low points
near 1.2800 and now has been trading for several days above its 20 day moving
average. It looks like a move up to 1.400 has started
Dollar-Yen: The dollar-yen has held support at
94.50. The next upside target is 107.00.
September Crude: Crude
is stalling at 108 resistance.
August Gold: I
think a rally of $200-300 is underway.
September Silver: The 18.00 level is now support and a
rally to 24.00 or so is underway.
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:
Hi Carl -
I appreciate very much your blog and had one question I was hoping to get some clarification. Let's saw we hit 1775 and that's the top, what is the potential downside for the market after that according to the box theory you follow?
Thank,
Andy
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