Wednesday, July 29, 2009

Guesstimates on July 29, 2009

September S&P E-mini Futures: I again 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. Meantime support 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.


Ron said...

Hmmmm............maybe a Triangle moving higher??

tapped out said...

Shouldn't we raise the range btm to 965 now?