Friday, August 14, 2009

Guesstimates on August 14, 2009

September S&P E-mini Futures: I think that today's day session range will be 1006-1018. A swing up to the next upside target at 1035 is underway. I think the rally will carry the e-minis to the 1120 level over the next few months.

QQQ: Support is at 39.60. Next upside target is 42.00.

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 started a move up to 105.00.

September Crude: I am going to stay bullish for a move to 76 until and unless weakness below the 62.50 level develops.

GLD – December 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.

1 comment:

John said...

What do you think about the data from AAII that shows bullishness above 50% in individual investors, a level that has marked bullish tops recently?

I know this doesn't fit into your particular type of contrarian trading, but you did quote a similar stat. around march low.