June S&P E-mini Futures: I think today’s day session range will be 820-845 and that the market will reach the 805 level is a couple of days. Strength on increasing volume above the 850 level would force me to abandon this prognosis and move over to the bullish column. In any event this market is likely to reach the 940 level over the next few weeks.
QQQ: The 30.80 level is support and I think the Q’s are headed for 35.00.
June Bonds: I don’t think the longer term bearish picture has changed. Resistance above the market is 132-16. Next downside target is 115.
June 10 Year Notes: I think a bear market in the notes is underway. Resistance above the market is at 125-20. Next downside target is 118.
Euro-US Dollar: Support at 131.00 has been broken decisively. I now think the euro is headed for 115.
Dollar-Yen: Then yen is headed for the 104.00 level.
June Crude: I think crude is on its way to the 58.00 level. Support is at 46.00.
GLD – June Gold: I think the market is headed below 700. Resistance above the market is at 915.
SLV - May Silver: Silver has broken 1240 support and is now headed for 750.
Google: I think that its drop from 747 is over. Support is at 340. Next upside target is 410.
2 comments:
excuse me, about euro/$ when you say "I now think the euro is headed for 115 " what do you mean? A mistake ? Thank you.
Looks like there is no problem to go over 850 in the morning.
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