Friday, May 13, 2011

Guesstimates on May 13, 2011

(note: Blogger was down most of the day - here are the estimates I prepared before the open this morning)

June S&P E-mini Futures: Today's range estimate is 1348-62. The drop from 1373 ended at 1325. The ES is now headed above 1400.

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 market is headed for 137.00. Resistance is at 145.50. I still think it is likely that it will reach 150 and above during the next few months.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 81.80.

June Crude: It looks like the trend is downward. Support is at 94 and I think the market will rally to 106 or so before another down leg develops. That subsequent down leg should carry crude down to 88.

GLD – June Gold: Downside target is 1430. Resistance above the market is 1530. I think that gold will trade above 1600 during the next few months.

SLV - July Silver: Support in silver is at 31.50. The market should rally to 41.50 after hitting 31.50 support.

Google: GOOG is headed for support at 495 from which point the move to 700 and above will resume.

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

1 comment:

Adsense said...

you may end up correct about the reaction being close to over . there is a cycle turn of monday tuesday .yet there are others pointing towards may 25 june 1 .
a low in this latter period would be preferred for me but for more bearish reasons . i still have to give this a label of point 28 towards the 1290 area on spx
we will know soon enough come monday tuesday .
good luck