Friday, August 12, 2011

Guesstimates on August 12, 2011

September S&P E-mini Futures: Today's day session range estimate is 1164-1194. I think the ES will rally 1200, then again break to 1100 or so, then put in a multi-week rally to 1200-1250.

QQQ: Support is 50.00 and upside target is still 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 near its historical low but will soon start a move to 4.50%.

Euro-US Dollar: I think this market is now headed for 1.5300. Support remains at 142.00.

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

August Crude: Crude has dropped as low as 75. Resistance above the market is now at 87 and the next step down should take it to 70. I think this is a bear market in crude which is likely to continue down into the 50-60 range.

GLD – December Gold: The market has traded as high as 1817. I think the next development will be a drop to 1450. Resistance above the market is at 1810.

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. Support is at 530.

Apple: Upside target is 435. Support is at 345.


Michael said...


Where are we in your "3 Peaks & A Dome" thesis?

Bill said...

Interesting Carl, you don't believe the market is getting ready to blast past 1250. I do think the 1370 high will be taken out before the end of the year. End the year in the 1400 to 1500 range.