Thursday, May 27, 2010

Guesstimates on May 27, 2010

June S&P E-mini Futures: Today's range estimate is 1075-1100. I think the low at 1036.75 ended the drop from 1216. I expect to see a series of 20-30 point swings up and down within the 1060-1100 range over the next few days. Once the market stabilizes a move to 1300 will begin.

QQQ: 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 crude oil is headed for 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.

3 comments:

John said...

Hate to continue to harangue on this but gap up is bearish. These vicious rallies (on low volume) occur in bear markets. This action hasn't been seen since Fall '08.

Naveedah said...

My estimates range 1065--1095.
I spent hours to find meaning of your every word.Difference surprises me.
Thank you so much,Sir for this enormous guidance.

philfromparis said...

Goldman around with the following asset allocation call...with the S&P down roughly 8% and treasuries (10 year) up 2% for the month, asset allocators who were underwight equities and overweight the 10 year will have to adjust....the resulting # is something like $28 bln in equities to buy for pension funds by month end