Thursday, July 07, 2011

Guesstimates on July 7, 2011

September S&P E-mini Futures: Today's day session range estimate is 1338-52. A sustained swing up to above the 1400 level is underway. The market is likely to put in several 10-20 points swings this week while making only a small amount of net upside progress.

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 now think the market is headed up to 1.50. Support is at 1.4250

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 1485.

SLV - September Silver: Support is at 32.00. This market is about to head upward to 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.

2 comments:

BullandBearWise said...

Another commentator suggesting the peak of the domed house was April: http://blog.stocktradersalmanac.com/post/Right-Shoulder-ARMS?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+stocktradersalmanac+%28Stock+Trader%27s+Almanac+Blog%29&utm_content=Twitter&utm_term=Almanac+Investor+Stock+Trader%27s+Almanac+

pete said...

Carl - thank you for yuor continued "free" blogs. i have followed you for a while, and think you have made some great posts/points/graphs/predictions. however, i think an earlier post about the domed house may have been accurate with a 2007 (if i remeber) prediction for point 23. i think congress with their banking/mortgage medling of the 90's - 2000 and the Fed interventions have messed up many of the natural sequences, incluiding Fibonacci, Elliott and perhaps Lindsay. looking at a 10 or 20 year chart surely looks like 3 peaks occured in 2007, and the first roof in 2010. things are happpening today that have not happened in a looong time. perhaps you can go back to your earlier posts (i may be off in identifying wqhen yuo posted them) and comment whether ther earlier posts were good, but todays actions distorted to the upside by the Fed.