Thursday, May 05, 2011

Guesstimates on May 5, 2011

June S&P E-mini Futures: Today's range estimate is 1331-44. The ES is headed for 1400 and above over the next few months.

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: There is still no sign of a top. Support remains at 146.20. Next upside target will be 153.50.

Dollar-Yen: The market is headed down to 70.00.

June Crude: Next step up will carry crude to 118. Support is at 106.

GLD – June Gold: Support is at 1510 and the next upside target is 1630.

SLV - July Silver: Next upside target is 56.00. Support at 39.00.

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.

8 comments:

BxCapricorn said...

Silver is done. We're run through support twice in two days. You revised your $44 to $39 and it's already under $38.

Varun said...

Is there a reason for sudden surge and drop in metals. Would like to hear from you Carl in future posts.

alexnewbee said...

it is game over. first for commodities - cotton, silver, crude, gold, currencies - eur etc. then for stocks.
surprises me that CF remains so bullish..

Kelly Blaine said...

Forecasting randomness is a no-win proposition.

Charles said...

34.54 is the 61.8% retracement on SLV. Looking for a bounce there. The volatility in silver is extremely high. The third parabolic wave would send silver to where Carl is predicting no problem. It's simple to say commodities are over, but don't count out inflation just yet. The dollar has yet to make new lows.

alexnewbee said...

there will be no third parabolic wave.. what over is over. look at crude 2008. just small short covering bounces. think silver is still screaming sell at 36,52 where it is now.

janet said...

Carl, don't be concerned about my (slv) purchase. I bought a "very small" amount of shares because I know it is falling like a knife. My plan is to make the larger buy down around 30. Thanks, Janet

Adsense said...

Hey Carl
todays drop still counts well as point 26 . if so we get a strong bounce in point 27 then a move towards 1290 before any rally takes place longer term .
we will see soon enough
joe