Friday, April 16, 2010

Guesstimates on April 16, 2010

June S&P E-mini Futures: Today's range estimate is 1197 - 1207. It looks like the ES will drop 30 points or more from the 1210-15 target zone.

QQQ: The 50.00 target has been reached and a drop to 48. 80 or so is now likely.

TYX (thirty year bond yield): I think this market is headed for 5.40%.

TNX (ten year note yield): I think that the market has begun a swing up to 4.50%.

Euro-US Dollar: Support is 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.

May Crude: The market has moved visibly above resistance but I still think the next big move will take it to 50.00.

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

SLV - May Silver: I think silver has started a down move that will carry it to 10.00 over the next few months. Resistance is now 18.30.

Google: A move that should take GOOG above 700 is underway. 560 is support.


Nick said...

I find it hard to believe the good news was already priced in for Google. The China drama gave the stock a hit earlier in the year and it is lagging far behind other tech names. Perhaps AAPL needs to seep some air out before GOOG has it's day.

siricor said...

As always, thank you Carl for your insight. I took advantage of an overbought stock that was due for a correction based on knowing that a drop in the markets were imminent as suggested in your blog. Thanks again.

maor said...

Hi Carl,

What do u say about the GAP down in google, will it close it, or it is a start of a down run and google will break the support, which is now at 560?

thanks a lot


Harry said...

Well there's your near 20 point drop, now what? Buy the dip? Or is this the start of more to come?