Friday, June 17, 2011

Guesstimates on June 17, 2011

September S&P E-mini Futures: Today's day session range estimate is 1269-1284. My advancing issues oscillators are oversold and are showing bullish divergences. Sentiment is very bearish. 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: The break during the past three days has been much bigger than I expected. I think this means that the Euro is headed down below its recent low to the 137.50 level. Resistance above the market is at 143.20.

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. Next target is 87.00.

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 has reached support at 495 yesterday and should now begin a move to 700 and above.

Apple: APPL nearly reached support at 318 yesterday and now should begin a move to 430.


EZ said...

How often are the oversold indicator divergences correct?

Adsense said...

somethings you have to research for yourself to be able to gauge there accuracy .
you might try doing some research
just a thought

Esoterictrader said...

Any thoughts on Google breaking support of 495 and Apple teetering at the support? Is it just the market flushing out weak hands? Or clues that the market is weaker than it appear?

EZ said...

Adsense, I don't know what indicator/ocillators Carl is using.
The ones I use are also showing a diverence and they seem to work well with market tops and bottoms.