September S&P E-mini Futures: Today’s range estimate is 1610-1626. The
ES bounced off its .618 retracement level this morning after the employment
news. I think it is now headed for 1500.
QQQ: Downside target is 70.00
has been reached but there is still no sign of a low. Next support is 66.50.
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: Support at 1.2950 was broken decisively on the ECB interest rate
guidance. I now think the market is headed for 1.2400.
Dollar-Yen: The dollar-yen has held support at
94.50. The next upside target is 107.00.
August Crude: Resistance
above the market is at 103. 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: Gold
has dropped a little below the 1200-50 target zone. There is short term support
near 1160 and I think a rally of$200-300 is like to start soon.
September Silver: Initial downside target is 20.00 has been
reached and exceeded. The 18.00 level is now support and I expect a rally to
24.00 or so to begin soon.
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:
Kinda surprised you haven't mentioned the very large H&S in Eur/USD Daily. Been looking for a move to 1.21, think we are finally confirming that move.
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