Friday, March 25, 2011

Guesstimates on March 25, 2011

June S&P E-mini Futures: Today's range estimate is 1303-1317. The cash S&P closed above 1305 yesterday. This means that last week's low at 1249 in the cash (1241.25 in June ES) ended the drop from the February top. The market is now headed for 1400 and above.

QQQ: I expect to see new bull market highs soon.

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: Intervention by the Bank of Japan and the Fed rallied the yen to 82.00. I think 83.50 is the upside potential. After that the drop to 70.00 should resume.

May Crude: Crude will continue upward to 112. Support is at 97.

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.


Edwin said...

Macrh consumer confidence level is the lowest in the past year. We are closer to the bottom than the top.

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