Friday, January 21, 2011

Guesstimates on January 21, 2011

March S&P E-mini Futures: Today's range estimate is 1275-1286. I think a drop to 1260 or so is likely before the market rallies all the way back to 1296 or a little higher. In any case by the end of April this market will have traded at 1350.

QQQQ: I think the market will rally to 58.50.

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 soon begin a 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.

March Crude: I still think crude oil is headed for 50.00. The 91.50 level is strong resistance because it is the midpoint of the 2008 drop from 147.80 to 35.00.

GLD – February Gold: A move to new highs is underway. 1495 is the next upside target.

SLV - March Silver: The upside target at 31.00 has been reached but there is still no sign of a top. Next upside target is 36.00.

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

Apple: Has reached the 350 target. Next upside target is 375. Support is at 310.


JW said...

I'm wondering if the dreaded Three dome and Peak formation is off the table....looking like it to me

janet said...

Carl..are you at the same address??? I want to make my annual donation. Janet

Carl Futia said...


Yes, same address. Thanks

Carl Futia said...


I am sticking with the 3pdh interpretation unless and until I see a significant departure from its norm.

TMG2010 said...

Would u kindly post an update to the 3 Peaks and Domed House chart pattern that you posted a couple of months. The "#" location would be fine, I have the chart from the last post. Thanks so much for all u do. Many Blessings to u and yours!