June S&P E-mini Futures: Switching to the June contract today. I estimate that today’s range will be 708-733. I also think a move to 840 has begun.
QQQ: The 26.00 level is still support and I think the Q’s have started a move to 35.00.
June Bonds: I think the long term trend in the bond market is now definitely downward. Next downside target is 117.
June 10 Year Notes: I think a bear market in the notes is underway. Next downside target is 118.
Euro-US Dollar: The euro is headed down to 122.50.
Dollar-Yen: The yen has nearly reached the 100.00 level. There is as yet no indication that the move up from 87.00 is over, so I now estimate that the yen will reach 104.00 before a substantial reaction begins.
April Crude: The 30-35 zone is long term support. The 50.00 level is resistance. I think the market has started to stabilize.
GLD – April Gold: I think the market is now headed below 700.
SLV - May Silver: Silver is still holding 1240 support but I think this level will soon be broken. If it is the market will be on its way below 800.
Google: I think that its drop from 747 is over. Support is at 290. Next upside target is 410.
2 comments:
What was the reasoning to switching to the June future from March?
i do not trade futures but i think its because usually you trade the most liquid contract. MC
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