Thursday, July 14, 2011

Guesstimates on July 14, 2011

September S&P E-mini Futures: Today's day session range estimate is 1313-1330. I think the move to 1400 and above will resume today.

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: Yesterday's strength above 1.4110 makes the drop below the June 15 low look like a shakeout. I think this market is now headed for 1.5300.

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

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1485.

SLV - September Silver: This market is headed for resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

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

1 comment:

Bill said...

Doesn't look like the move to 1400 is anywhere near to resume. Earnings season should be the catalyst but it doesn't look like it's meant to be this this time.