Wednesday, February 15, 2012

Guesstimates on February 15, 2012

March S&P E-mini Futures: Today's day session range estimate is 1349-1359. Any reaction would only be a reaction within a larger bullish trend. A rally from the November 25 low at 1147.50 which matches the size of the October rally would bring the ES to 1370. The May 2011 top was at 1373. I expect the market to move well above the1400 level over the next few months.

QQQ: Resistance stands in the 63-65 zone and a break to 59.50 will probably be the next development.

TNX (ten year note yield): The 10 year yield has started a move to 2.50%.

Euro-US Dollar: The rally from 1.2623 should continue to 1.3540 before the market turns down once more. Meantime support is at 1.2940.

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

March Crude: An extended upswing is underway. It will probably take crude to 114 or so.

GLD – April Gold: A move to 2100 is underway.

SLV - March Silver: I think silver is headed for 50.00.

Google: Google is now headed for its 2007 top near 750.

Apple: Next resistance is at 545.


marcusbalbus said...

you must be right: k upton in on the cover

Nav said...

S+P 500 Sentiment gauges:
1)Daily Sentiment Index (DSI) (Feb 13): 72% bulls,
(71% 5 day avg, 67% 10 day avg). Nears overbought
,after the oversold 17% bulls 10 day avg in late-Dec.
Peaks above 85% bulls 10 day over the last three years..
Rally pausing below the 1356 July ‘11
peak. Nearby supports at 1333 Jan 26 high, 1327 Oct
2007 downtrendline. Floor is 1293/1300. Next resists
at 1365 Dec CH high, followed by 1371 ‘11 peak