Wednesday, June 16, 2010

Guesstimates on June 16, 2010

September S&P E-mini Futures: Today's range estimate is 1093-1112. The 1036.75 low on May 25 ended the drop from 1216. I expect to see the 1300 level by the end of the year.

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 scraping bottom. Downside should be limited to 118.00 and then an extended move into the 135-40 zone should begin.

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 – August 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 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.


S Mohiuddin said...

Carl, have you stopped posting trades or have you not traded lately?
It's been a long time since we saw you trade. From your commentary, you seem reasonably confident about the market, so is there something that's stopping you from trading? Please share with us for the benefit of all.

Naveedah said...

As far sharing his knowledge and hard
work is justified.
Sharing trades don't make sense for a trader of his level.he is class!
I am so very thankful for your sharing
insight with us.
was happy to see a great trader and very kind man E-wizard!

Now,i won't read any comments for days!

straightshooter1000 said...

The direction and trend of the market Carl gives is more important than the trades he posts. And those posted trades are mostly day trades with tight stops.

Dave Narby said...

Hi Carl,

Think we will make a run at new highs and fail, then plummet into the late Summer/early Fall.

I'm also still waiting for some more detailed analysis on precious metals. So far your analysis hasn't been more than "I think they are going here and here", but you have failed to give any reasons why.

Do you really think they will hike interest rates before employment starts recovering? Because that's the only thing I can see that cause them to decline, and that seems highly unlikely.

Not to mention any systemic shock will likely trigger a moon shot...