Friday, May 21, 2010

Guesstimates on May 21, 2010

June S&P E-mini Futures: Yesterday's range, entirely below the 1100 level, makes me think that the market will drop into the 1030-40 range before turning upward. My range estimate for today is 1035-1075. Once the low has been established I think the ES will begin a rally that will take it to 1300 and higher.

QQQ: Support stands at 42.40. A move up to 54.00 will be the next big swing.

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: The market is starting to stabilize. The 131 level is resistance. Support is at 122. I think a move to 140 will begin from current levels.

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

July Crude: I still think the next big move will take crude oil to 50.00.

GLD – June Gold: The odds are that the market will continue upward to 1320. I still expect to see 875 before 1400. Support stands in the 1160-70 range.

SLV - July Silver: I think silver will rally to 21.50 and then begin a move to 10.oo.

Google: The 450 level is now support. A move that should take GOOG above 700 will begin soon.

Apple: Should reach 350 (at least) before the bull market ends. Support is at 240.


tempo said...

Thanks Carl. I am buying your book on Contrarian Trading as the concept makes a lot of sense. For example, I am sure a lot of very smart and wealthy individuals are buying the best large cap stocks at the same time the media heads are talking the market down.

khalid said...

Johan Nilsson:
you wrote pimaCanyon
How, on Earth, do you know what caused what?

Great response.
I agree with catherine from a few posts below about the Hang Seng leading global markets.

Naveedah said...

Your guess estimates worked,but I learnt to develop from you.Mine for today were1045--1082+ Why get different?
Low is still to come,it seems short covering.
Looking forward for your enormous
Buying gives something to look forward.
Have a great weekend,Sir

janet said...

What I want to know.. is this a dead cat bounce????Anyone?????

sandy allred said...

Yes, this is a dead cat bounce that could last for over three months....