June S&P E-mini Futures: Today's range estimate is 1147 - 1161. The ES should reach the 1200 level by the end of May.
QQQ: A rally to 50.00 is underway.
TYX (thirty year bond yield): I think this market is headed for 5.00%.
TNX (ten year note yield): I think that the market has begun a swing up to 4.30%.
Euro-US Dollar: This market is now headed for support near 131.00. Resistance above the market is at 141.00. Looking further ahead I think that a drop to 125 is likely over the coming months.
Dollar-Yen: A rally to 100.00 is underway. Support is at 90.00.
April Crude: I think the market is headed for 50.00. Resistance is in the 81-83 range.
GLD – April Gold: The longer term trend has turned downward. I expect gold to drop to 875 over the next few months.
SLV - May Silver: I now think silver has started a down move that will carry it to 10.00 over the next few months. Resistance above the market is now 18.30.
Google: A move that should take GOOG above 700 is underway.
2 comments:
Mr.Futia,
The headline at marketwatch says "all clear for the bulls." At the same time bears are now calling for a "sharp" reversal. I'm not sure who not to believe.
Cheers!,
Nick
while I have the greatest respect for Mr Futia and its obviously not wise to bet against him, I believe we will see the imminent break of 20 pts that he was calling for a few days ago, probably starting later today.
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