Monday, June 15, 2009

Guesstimates on June 15, 2009

September S&P E-mini Futures: My comments early Friday are still my views this morning. As I write this the e-minis are trading below midpoint support at 936. If sellers take control while the market is below 930 I shall conclude that the e-minis are headed at least to 918 and probably to 903. For the moment I can’t estimate today’s day session range, but I do think it will turn out to be about 15 points wide.

QQQ: Support is at 34.50. The next upside target is 39.90.

September Bonds: The 113-00 target has been reached but there is now sign yet of a low. Resistance stands at 116-08. A bear market is underway in the bonds.

September 10 Year Notes: The downside target at 113-00 has been reached. There is no sign of a significant low. Resistance above the market stands at 115-16. I think a bear market in the notes is underway.

Euro-US Dollar: There is no sign of a top. Support is at 137.50 and I think the market will continue upward to 146.00.

Dollar-Yen: The yen will probably drop to 91.50 and then begin a move up to 105.00.

July Crude: Support is at 64.00 and continuation up to 75.00 is likely.

GLD – August Gold: The market is headed for new highs near the 1050 level. Support is at 935.

SLV - July Silver: Silver is headed to 1700. Support is at 1450.

Google: Support is at 395. Next upside target is 500.

2 comments:

Win said...

Carl,
I know you're mostly a technical analyst, but in case you're interested here's some interesting fundamental news:

http://finance.yahoo.com/news/NY-Fed-manufacturing-slump-rb-15523657.html?sec=topStories&pos=3&asset=&ccode=

Kishore said...

The uptrend line from March 9 has been broken. Let us see how far it goes down today, definitely a downtrend day. Then, we should expect a goodbye kiss back to the trend line followed by a significant drop over the next few days.