Monday, April 11, 2011

Guesstimates on April 11, 2011

June S&P E-mini Futures: Today's range estimate is 1324-34. Friday's low should support a swing up to 1356. The market is headed for 1400 and above.

QQQ: Upside target is 63.00.

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: The euro nearly reached 145.00 Friday but I see no sign yet of a top. Support is now at 142.50. Next upside target is 147.00.

Dollar-Yen: The dollar-yen has been stronger than I expected. Next resistance is 86.50. I still think that a drop to 70.00 lies dead ahead.

May Crude: The 112 target has been reached. I expect a lot of hesitation here if not a significant reversal. In the meantime support is at 104.

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

SLV - May Silver: The 39.50 resistance level has been reached. The market is likely to stall here, but my best guess is that continuation up to 44.00 is likely.

Google: The 560 level is support. A move that should take GOOG above 700 is underway.

Apple: Next upside target is 410. Support is at 310.

4 comments:

Bill said...

Earnings will determine the market's fate. "Show me the money" is the market's attitude right now. The question is have higher commodity prices and the japanese tsunami impacted earnings? If the answer is yes this market will sell off, if the answer is no then we are going up from here.

catherine said...

I disagree on usd yen. The 30 year barrier options have now been taken out. The Japanese will be even more keen to flood the system with liquidity and get a weaker yen.
The only way I see usd jpy going to 70 is for another massive stock market implosion and for yen crosses to collapse. This will not be caused by a usd collapse but by all other currencies rising against the usd.

Fredrik said...

Noone that believes that the "legendary" $50 in Silver will be reached soon just becasue the sake of it (psychological factors) now when we are so close??

Nav said...

The answer had been "NO"and market was resilient .
"May Crude: The 112 target has been reached. I expect a lot of hesitation here if not a significant reversal. In the meantime support is at 104."
Thank you Carl,shorted CL_F @113.35--108 !
I love this site ...amazing analysis!
LONG LIVE CARL !