Monday, March 07, 2011

Guesstimates on March 7, 2011

March S&P E-mini Futures: The market's short term trend direction is very uncertain. I really have no idea which end of the current 1292-1343 trading range will be broken first. Today's range estimate is 1318-30. I still think we shall see much higher prices within the next couple of months.

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: 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 - March 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.

1 comment:

Adsense said...

made my comments the other day
the us dollar appears to be bottoming , how that effects the stock market im not sure of at this point . a move lower towards 11876 on the dow still makes sence to me . weather that is labeled point 16 or 18 im not sure of myself . the silver and gold markets seem to be very extended
good luck