Tuesday, February 16, 2010

Guesstimates on February 16, 2010

March S&P E-mini Futures: Today's day session range estimate is 1074-1094. I think the ES is in the process of breaking out above its recent 1058-1080 trading range. I think the market will reach 1200 over the next three months.

QQQ: A rally to 50.00 has begun.

TYX (thirty year bond yield): I think this market is headed for 5.00%.

TNX (ten year note yield): I think that the market has begun a swing up to 4.30%.

Euro-US Dollar: This market is now headed for support near 131.00. Resistance above the market is at 141.00. Looking further ahead I think that a drop to 125 is likely over the coming months.

Dollar-Yen: A rally to 100.00 is underway. Support is at 90.00.

March Crude: I think the market is headed for 50.00.

GLD – April Gold: The longer term trend has turned downward. I expect gold to drop to 875 over the next few months. Resistance above the market is at 1120.

SLV - March Silver: I now think silver has started a down move that will carry it to 10.00 over the next few months. Resistance above the market is at 17.00.

Google: The next significant move should take GOOG above 700.

1 comment:

Win said...

Nice short squeeze on the EURUSD in progress. I went long at 1.3606. Too bad I didn't hold on for all this, but at least I made a few bucks. I may try to short 1.374.