Tuesday, June 14, 2011

Guesstimates on June 14, 2011

September S&P E-mini Futures: Today's day session range estimate is 1273-1288. I think the drop from 1373 is ended yesterday at 1259.50. A sustained swing up above the 1400 level will be the next significant development.

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: I believe the 139.68 low will hold and that the market is headed back to 150.00 and higher. Support now is at 142.50.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market 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 – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1430.

SLV - July Silver: Resistance in silver is 41.50. An strength above 43.00 would mean that the market is headed above 50.00.

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 318.


Piazzi said...

kind of amusing that you got 7 comments on a chop-chop, neutral day yesterday and none on this trend day up

kind of interesting also how some tried to show you the errors of your ways yesterday, but, today, so far, nothing

MC said...

interesting to see how nobody's getting interested in the dollar. Arbitrage opportunities are just almost everywhere for the non u.s. residents. The dollar is turning silently into a win-win scenario where arbitrage will hold the dollar from further collapsing while higher markets will press the Fed to act in the front end of the curve to flatten the longer end. This is my view currently, and I might be wrong as well ! cheers. MC

George Rahal said...

Carl, do you buy into candlestick patterns? I'm not sure if I do due to inexperience. On a daily chandlestick chart, the last three days comprise the morning star bullish reversal pattern.