Monday, June 29, 2009

Guesstimates on June 29, 2009

September S&P E-mini Futures: Today I think we shall see a day session range of 912-930. The e-minis are on the way into the 965-80 zone.

QQQ: Support is at 35.00. The next upside target is 39.90.

TYX (thirty year bond yield): From its December ’08 low at 2.52% the yield on the long bond rallied to 5.07% on June 10. At the moment it stands at 4.40% I think that a drop into the 4.10-4.20 zone is underway and from there the TYX will climb back above the 5.00% level.

TNX (ten year note yield): From its December ’08 low at 2.04% the 10 year yield rallied to 4.01% on June 10 and is currently at 3.66%. I think it will drop a bit further, to 3.40% or so before resuming its move to levels well above 4.00%.

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 92.50 and then begin a move up to 105.00.

August Crude: Support is at 68.00. We think the market is forming a top in the 70-75 range and that the next substantial move will be downward.

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.


PM said...

Hi Carl,

Welcome back to cyberspace.

I have a confirmed buy signal on the NAZ as of Friday's close. For today in the SP's, a close above 918.30 is a confirmed buy signal, and a close above 920.80 is another confirmed buy signal. Just trading through each of those prices is a buy.


Kindest regards,


TradingNuggets said...


Good to have you back and thank you for posts.

You have been right on target with your edges.


Maxwell said...

Glad to see your back up and running. Thanks again for all of your insight, it is greatly appreciated!

Ron said...

Nice one Carl...........I would sure like to hear you comment on how you came up with 912 for your bottom support level.


Kishore said...

As government intervention, now acknowledged even by CNBC (maybe just to regain their lost credibility), is an open "secret", the accuracy of Carl's guesstimates makes me suspect that he works for Ben Bernanke. Carl, do you? Or maybe the FED reads your blog first before their intervention?