Wednesday, June 17, 2009

Guesstimates on June 17, 2009

September S&P E-mini Futures: I estimate today’s day session range will be 900-920. Strength above 916 will mean that a move into the 960-985 zone is underway.

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 920.

SLV - July Silver: Silver is headed to 1700. Support is at 1385.

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

1 comment:

cipmht said...


Do you have any comments on your JPY forecast? I can see the strengthen to the low 90s, but why do you see it moving up to 105?