Tuesday, July 28, 2009

Guesstimates on July 28, 2009

September S&P E-mini Futures: I estimate today's day session range as 960-975. I think the rally will carry the e-minis well over the 1000 level over the next few months.

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.

September Crude: The market moved visibly above 67.50 resistance so I think it is headed to 76.

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.


Anonymous said...


Do you think we will experience a pullback before the S&P heads up higher?

Adsense said...

while i do tend to agree that the price low of this bear market most likely bottomed in march 2009 . your use of the time magaizine cover i have to take with a grain of salt .the claim that the recession is over is more telling of a sideways to topping market .
also another thing im begining to question which we wont know for several years , is lindsays 12 yr 3 month to 12 yr 8 month count from high to low . maybe im just more in tune then others maybe not . but there is a host of people all thinking 2012 as a cycle low and it definatley has merrit , yet the benner business cycle has 2011 which also should be considered and i myself have a 46 yr cycle which turns up in june 2010 . so many cycles changing and that may just give us a sideways trend .
( very braod picture )
all this said however one has to wonder ( which is what i think your doing in your contrarian post )if the masses are indeed wrong and the market goes higher then most expect . i have my doubts at thhis point in time but we will see soon enough . my bias is for a decline begining aug 6th-16th into nov 12th . from there ill make my mind up for next years set ups . overall though the real change to the upside ( cycle wise ) does not begin untill june 2010 . ill go one further . the june 2010 period is a major cycle
trand change . good luck
not so anonomous joe