Wednesday, June 03, 2009

Guesstimates on June 3, 2009

June S&P  E-mini Futures: I estimate that today’s day session range will be 930-950. The e-minis are on their way into the 950-80 zone. The 952 and 979 levels are strong, midpoint resistance.

QQQ: The next upside target is 39.90.   

June Bonds: A bear market is underway in the bonds. Next downside target is 115.  

June 10 Year Notes: I think a bear market in the notes is underway. Next downside target is 115.

Euro-US Dollar: There is no sign of a top. Support is at 135.50 and I think the market will continue upward to 144.00.  

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

July Crude: Crude has nearly reached the 69.00 target level. Support is at 64.00 and continuation up to 75.00 is likely.   

GLD – June Gold: The market is headed for new highs near the 1050 level.

SLV - July Silver: Silver is headed to 1700.

Google: Support is at 390. Next upside target is 450. 

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