Wednesday, June 22, 2011

Guesstimates on June 22, 2011

September S&P E-mini Futures: Today's day session range estimate is 1279-94. I now think the drop from the May 2 top at 1268 (Sept contract) ended on June 16 at 1252.25. My advancing issues oscillators are still oversold and are showing bullish divergences. Sentiment is still very bearish. A sustained swing up above the 1400 level 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 Euro is headed down below its recent low to the 137.50 level. Resistance above the market is at 144.35.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August 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 dropped below 495 support but it would have to spend several days below there before even lower prices become likely. I still think that the next big development will be a move to 700 and above.

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


David said...

Congratulations !!!

- high: 1293.75
- low : 1279.50

Some could complain their order at 1294 has not been executed !!! Those ones should stop trading...

Mark said...

What happened to your prediction of Lindsay's 3 peaks and a dome which appears to be developing just as you said. Top in April. The 1332 area is twice the 666 bottom and would be perfect for a lower shoulder.

Win said...

If you have the time, please respond to Mark's comment above. I do think that you were spot on with the April top prediction in the 3 peaks-domed house pattern. We are now in a corrective period that will presage the next cyclical bull. The correction should retrace at least 31.8% of the March 2009 to April 2011 bull run. If you look at a 10 year chart of the $NDX, $COMP or the $BSE, I think you will see what I mean. The BSE and the Hang Seng may only be 5- 10% away from bottoms. We may be about 10-15% away.

However, we are at good support now, which should hold for the time being. I am about 30% long and planning to go more long today/tomorrow, for about 1 week.

Thanks again for sharing your wonderful work here.