Wednesday, February 02, 2011

Guesstimates on February 2

March S&P E-mini Futures: Today's range estimate is 1294-1306. Next upside target is 1320. By the end of April this market will have traded at 1380.

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 – April Gold: A move to new highs is underway. 1495 is the next upside target. Support is at 1315.

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. Support is at 25.50.

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.


dcatlowpj said...

Hi, Carl: what about the gap unfilled below your low point? Possible? Maybe I would benefit from being in your room? Do you allow live comments there in an interactive style?

There are some very nice live feed tools that are MiRc based...if you want, send me an email..



I would rather it be real time ...and not post related...

Verde said...

Carl, what do you think the chances are that the ES sees a close above 1306-1310 in the coming days? Great blog by the way...

Check this post that gives a confident look at why the markets will not continue up from here (at least not in the short-term)