Thursday, March 10, 2011

Guesstimates on March 10, 2011

June S&P E-mini Futures: I think the overnight swing downward from yesterday's close is the start of a move down to 1270 in the June contract. (June is trading 5 points below March.) Today's June contract range estimate is 1290-1305. I still think we shall see much higher prices within the next couple of months.

QQQ: I expect to see new bull market highs after the current break ends.

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: Crude has hit 104 so I think it will continue upward to 112.

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

SLV - May Silver: Silver has reached the 36.00 upside target but there is still no sign of a top. Next stop is 39.50.

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

Apple: Next upside target is 375. Support is at 310.


Adsense said...

Hi carl
for what its worth here is my thoughts.
the us dollar has bottomed and this should bring down overall comodity prices . gold and silver are very extended along with oil .
silver should come back to th 26 level into july aug ( seasonal bias is down into august so nothing new here ) the initial panic we are seeing is part of a re adjustment of portfolios .
money moves out of stocks and comodities then moves back in yet avoids oil stocks and the metals .
my bias is the banking sector will then out perform comodites which i aqm going to assume is bullish the overall stock indexes .
the late march early april time period is a concern though as well as mid augest . the larger trend i still think is for a long term low due mid 2012 right into the nov elections , so not exactly sure where we are in the price pattern.

sneads11 said...


Alcoa kicks off the next earnings season on 04/11/11. Will this be the catalyst to move the market out of a mid 1250s or lower range?
Thanks for your blog and any comments you may make regarding this.