Tuesday, July 19, 2011

Guesstimates on July 19, 2011

September S&P E-mini Futures: Today's day session range estimate is 1306-1321. I think yesterday's action was a shakeout below 1295 and that short term trend is now upward. A move to 1400 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 drop below the June 15 low still looks 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.

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