Monday, April 19, 2010

Guesstimates on April 19, 2010

June S&P E-mini Futures: Today's range estimate is 1180 - 1193. I expect the drop that started from 1210 to end near 1163 sometime this week. Once the correction is complete a move to 1270 should start.

QQQ: A drop to 48. 80 or so is 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: I still think the next big move will take crude oil 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. 540 is now support.

3 comments:

Yash said...

1163 is also my target but from 1163 to 1270 in one go? I have one more bigger correction before reaching 1270. So 1163 to 1228-1235 or so then one more bigger correction and then to 1270 in late summer like jule end.

Thanks,
Yash

TMG2010 said...

We may have just set the right shoulder of the H&S on the chart. If that is the case, then it is down to 1166-1170 on cash S&P. I may be taking a gamble but I added to my short position at 1196 cash S&P.

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