Friday, February 25, 2011

Guesstimates on February 25, 2011

March S&P E-mini Futures: Today's range estimate is 1300-1317. I expect the ES to close today below 1322.25. If it does I will conclude that a drop of 90-125 points began from the 1343 top. In any case once this reaction is complete I expect to see new highs for the bull market.

QQQ: The 58.50 target has been reached. Support is at 56.75. Next upside target is 60.00.

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 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.

April Crude: Political uncertainties have driven crude well above the 91.50 midpoint. While I remain low term bearish I also think crude will rally to 102.00 over the next couple of weeks. 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.


Win said...


I agree with your call for a 90 point drop.
However, given the extreme readings on the advancing issues oscillators and Put Call ratio, I expect a decent bounce here. We may well rise beyond 1320 before we continue with the 90 point drop.

janet said...

Sounds like CAUTION is the word of the day...thanks

VDR said...

Carl, increase in crude is really an area of concern for the entire world. I believe every country is disturbed due to rise in crude prices. You have analyzed very good information for us. you information gives us so many info that we don't have to go to any other website. thanks.