June S&P E-mini Futures: Today's range estimate is 1285-1303. I am expecting an end to the drop from 1373 somewhere in the 1275-85 range. A sustained swing up above the 1400 level will be the next significant development.
QQQ: Upside target is 63.00.
TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.
TNX (ten year note yield): The 10 year yield is headed for 4.50%.
Euro-US Dollar: I believe the 139.68 low will hold and that the market is headed back to 150.00 and higher. The midpoint of the drop from 149.38 is 144.53 and this will probably act as temporary resistance. Support now is at 143.00.
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.
July Crude: It looks like the trend is downward. Support is at 94 and I think the market will rally to 106 or so before another down leg develops. That subsequent down leg should carry crude down to 88.
GLD – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1430.
SLV - July Silver: Resistance in silver is 41.50. An strength above 43.00 would mean that the market is headed above 50.00.
Google: GOOG is headed for support at 495 from which point the move to 700 and above will resume.
Apple: Next upside target is 410. Support is at 310.
1 comment:
Carl, whats your update on SLV?
Looks like strongly bearish.
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