Tuesday, June 16, 2009

Guesstimates on June 16, 2009

September S&P E-mini Futures: Resistance stands at the midpoint of yesterday’s day session, roughly the924 level. Good volume buying above that level would mean that the reaction ended at yesterday’s 915 low. Meantime I’ll stick with my projection of a drop to 903 or so before the market moves into the 965-80 zone. At the moment I estimate that today’s day session range will be 910-925.

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.


Martin Niemann said...

What made you increase your EUR/USD target to 1.46?

Ron said...

Carl FWIW.......the font is smaller on your post here this morning.

John M said...

Thanks for the 903 target, Carl. I do think we'll be heading well below that over the next 2-3 weeks, but that's a small eternity in trading terms.

PM said...

Hi Carl,

My sell signal mentioned yesterday has been confirmed as of yesterday's close below 924.60. Today, I have yet another sell signal, and it will be confirmed with a close today below 915.40.


Kindest regards,