Thursday, July 28, 2011

Guesstimates on July 28, 2011

September S&P E-mini Futures: Today's day session range estimate is 1290-1308. I think the debt ceiling talks are much ado about nothing. The ES will probably drop into the 1280-85 range and then begin a sustained rally. I expect to see the market above 1400 during the coming months.

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 think this market is now headed for 1.5300. Support is at 142.00.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1520.

SLV - September Silver: Resistance is at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 750 and above is underway.

Apple: Upside target is now 415.

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