Friday, July 08, 2011

Guesstimates on July 8, 2011

September S&P E-mini Futures: Today's day session range estimate is 1331-43. 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.

3 comments:

Zero Cool said...

market going down 1.6 down now ,
we are going back to 1300.. before 1400 now..

dave said...

June 13, 2011 Armstrong Date a big winner.

http://carlfutia.blogspot.com/2011/06/martin-armstrong-day.html

MK said...

Yes, Armstrong's date coincided with a short term price-time balance point on Jun 16th which was illustrated here:
http://marketkarma.blogspot.com/2011/06/price-time-jun-16-2011.html