September S&P E-mini Futures: Today’s range estimate is 1964-1974. The
ES broke below 1971 support yesterday but volume and activity has been light. I
think there is a good chance that support at 1964 will hold but if it doesn’t a
much bigger drop will have begun.
QQQ: Upside target is
95.00 has been reached. I think the Q’s are going to have a hard time making
further progress but there is as yet no sign of a top.
TNX (ten year note yield): I think the market will move to 3.50%
over the next few months.
Euro-US Dollar: The euro is still locked in a 1.35-1.37
trading range. I think any drop below the low of this range will be brief and
the next big development will probably be an upside breakout.
Dollar-Yen: The dollar-yen is headed for 107.00.
August Crude: My
upside target is 112.
August Gold: I
think gold is headed for 1395.
September Silver: Resistance above the market at 20.25 has
been broken. Silver is headed for 22.25.
Google: Googl has moved
above the two important resistance levels I have been watching at 538 and 555
so I conclude that it is now headed for 620 and higher.
Apple: Apple’s
stock split makes its historical high 100.70. AAPL had moved past all
resistance which I can calculate below that top. It is well above rising 50 and
200 day moving averages. I now think AAPL is headed above 100, probably to 108
or so.
1 comment:
>>>The ES broke below 1971 support yesterday but volume and activity has been light.<<<
Appreciate your continuous daily reports, how is it that light volume was not an issue when the market moved up relentless but it is an issue now that is stared to move down?
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