Thursday, June 18, 2009

Guesstimates on June 18, 2009

September S&P E-mini Futures: I estimate today’s day session range will again be 900-920. Support at 900 has not yet been rejected but I expect this to happen soon. Once it does a move into the 960-985 zone will be underway.

QQQ: Support is at 35.50. 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.


ARJ said...


Thank you again for your great job!

With respect to ES target, how much weight you'd put MS, GS or other big houses' short term upgrades or downgrades in considerations? Believe the recent market views from both MS & GS have been bearish, and MS' target for SPX is 900 for the year, certainly Morgan has been out the mark lately.

Ron said...

Carl....I am confused about the US dollar. You have the EURUSD moving much higher and at your Chart site you have the US dollar going much higher. Is there an error or am I just missing something.

Thanks for the steady great work.