Tuesday, December 21, 2010

Guesstimates on December 21, 2010

March S&P E-mini Futures: Today's range estimate is 1242-1252. Support remains at 1225 and 1250 is strong resistance. I think a drop of 50-75 points is imminent. Once it is complete the market will resume its advance to 1300.

QQQQ: Next upside target is at 55.00 and has nearly been reached.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think the euro will be supported near 130 and from there will move up to 145.00.

Dollar-Yen: A drop into the 78.00 - 79.00 range is underway and I think an important low will form in that zone.

February Crude: I still think crude oil is headed for 50.00.

GLD – February Gold: A move to new highs is underway. 1450 is the next upside target.

SLV - March Silver: A move to new highs is underway. 31.00 is the upside target.

Google: The 540 level is support. A move that should take GOOG above 700 is underway.

Apple: Should reach 350 (at least) before the bull market ends. Support is at 265.

1 comment:

Kim said...

With the Feds serious about QE2 and oil dollar base why do you think oil will be $50 in Feb?