Friday, May 27, 2011

Guesstimates on May 27, 2011

June S&P E-mini Futures: Today's range estimate is 1325-1333. I think the drop from 1373.50 has ended and that a sustained up swing to 1400 and above is underway.

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 143.50. 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 now is at 82.45.

July 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.


Adsense said...

Hey Carl
since we are into the time frame of may 25 june 1 for a low ill add a few thoughts . the range of 12464-12391 will be important for the close today . above 12464 is a bullish signal below 12391 is a bearish signal based on todays closing prices .the key level over the coming weeks is 12433.74
daily indicators becoming oversold
not extremely yet getting there
next swing high is due june 15th

Adsense said...

Last note :
Todays close at :12441.58 on the dow was just slightly above monday/tuesdays pivot ( holiday )
at 12441.03 ( slight bullish close ) the 10 day average pivot sits at 12468.47 , a break above this level monday / tuesday would signal a break out of the down trend that began on may 2nd 2011
12575.98 should be tested