June S&P E-mini Futures: Today's range estimate is 1195 - 1208. Yesterday's late rallied continued to the 1203 level early this morning. It was much bigger than I anticipated and was uncorrected. This leads me to conclude that yesterday's 1180 low ended the correction from 1180 and that a swing to 1270 is now underway.
QQQ: A move up to 54.00 has begun.
TYX (thirty year bond yield): I think this market is headed for 5.40%.
TNX (ten year note yield): I think that the market has begun a swing up to 4.50%.
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.
June Crude: I still think the next big move will take crude oil to 50.00.
GLD – June Gold: The longer term trend has turned downward. I expect gold to drop to 875 over the next few months.
SLV - May Silver: I think silver has started a down move that will carry it to 10.00 over the next few months. Resistance is now 18.30.
Google: A move that should take GOOG above 700 is underway. 540 is now support.
3 comments:
Same old game. Seems that as long as the Fed keeps rates very low, money will keep coming into the system and the rally will continue. Any move downward won't last long.
Sounds like you are claiming the fed's easy money is making the stock market go up.
The fact is stocks go up because of high profits. When companies make money the stock market goes up when they lose money it goes down. Simple as that. Low interest rates help profits, but if the profits aren't there low interst rates do not lift the stock market.
Carl any time frame for S&P 1270.Do you see apullback to 1165 in the next week than an advance to 1270 into May TIA Johnny
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