Tuesday, July 21, 2009

Guesstimates on July 21, 2009

September S&P E-mini Futures: I think this rally will carry the e-minis into the 965-80 zone and eventually over the 1000 level over the next few months. I estimate today's day session range as 940-960.

QQQ: The next upside target is 39.90.

TYX (thirty year bond yield): Support is at 4.20%. I think a swing to above the 5.00% level is underway.

TNX (ten year note yield): Support is at 3.25%. I think a swing up to 4.30% 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 has reached the 92.50 downside target and soon will begin a move up to 105.00.

August Crude: The trend in crude oil is now downward and will carry the market as least to the 55.00 level. Resistance above the market is at 65.00.

GLD – August Gold: Still expecting a move to 1070. Support is at 900.

SLV - September Silver: Silver is headed to 1700. Support is at 1250.

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


PM said...

Hi Carl,

Yesterday we had a confirmed sell signal with a close below 952.50, but we already have a buy signal at 949.50 as of this morning. We would need to close below 949.10 for the original sell signal to remain intact. A close above 949.10 today will cancel the sell signal and confirm this morning's buy signal. As expected, that sell signal was short lived.


Kindest regards,


Barcode said...

Since March do you think it is possible that the SPX is forming the rare 3 peaks and a domed house, and we're on the final run up ?

A few people are expecting a surprise for the market next month.