Wednesday, March 17, 2010

Guesstimates on March 17, 2010

June S&P E-mini Futures: Today's range estimate is 1147 - 1161. The ES should reach the 1200 level by the end of May.

QQQ: A rally to 50.00 is underway.

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.

April Crude: I think the market is headed for 50.00. Resistance is in the 81-83 range.

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

SLV - May 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 now 18.30.

Google: A move that should take GOOG above 700 is underway.


Nick said...

The headline at marketwatch says "all clear for the bulls." At the same time bears are now calling for a "sharp" reversal. I'm not sure who not to believe.

curt said...

while I have the greatest respect for Mr Futia and its obviously not wise to bet against him, I believe we will see the imminent break of 20 pts that he was calling for a few days ago, probably starting later today.