June S&P E-mini Futures: Today's range estimate is 1156 - 1169. I think another day or two of trading sideways or a bit downward is likely here. But I also think a strong move upward will begin next week. The ES should reach 1200 in April on its way to 1225 or so.
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: Support is 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.
May 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.
3 comments:
Carl, I won't be a bit surprised if ES retraces all the way back to the high of 1176.50. Afterall, it is a bull market, that has been a deadly nemesis for shorts. Yesterday, was probably just a bear trap?
Full Moon on Monday.
Go back to September and you will see significant lows made in each of one these lunar occurrences every month since. Unreal.
Wags, Tuesday is when we have the full moon. That should be exciting, as the shorts (Moonrakers) will then be able to rake it for two FULL days, for a change, i.e. once in a blue moon!
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