Wednesday, June 23, 2010

Guesstimates on June 23, 2010

September S&P E-mini Futures: Today's range estimate is 1080-1102. The low of this reaction should develop today. 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 is underway.

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: A move into the 135-40 zone is underway.

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

August 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.

1 comment:

Naveedah said...

Good Morning,Sir!
DaySupport is 1094.Short term support is 1089-1984 and then resistance is 1097.Short term resistance is 1106.
Guess estimates makes perfect sense
1080--1102,of course after your long experience and hard work.
Highly Obliged !