Tuesday, July 07, 2009

Guesstimates on July 7, 2009

September S&P E-mini Futures: The e-minis are headed for the 860-70 range. I estimate today's day session range as 880-900. While I don't expect to see it, high volume buying above the 900 level would mean that the market is headed for the 965-80 zone.

QQQ: Support is now at 34.00. 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 4.83% on June 10. Support is at 4.20%. The next big move will be a swing upward in yield to 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. Support is at 3.40 and the next swing should take the yield on the notes to 4.30%.

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: 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 67.00.

GLD – August Gold: The market is headed for new highs near the 1050 level. Support is at 920.

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

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


Win said...

Put call ratio is at an extreme; we should get a bounce here, which I will attempt to short.

Bandi said...

Carl, Today also no trade yet. Just curious any reason why you have not taken any position since yesterday.