Tuesday, April 09, 2013

Guesstimates on April 9, 2013

June S&P E-mini Futures: Today's day session range estimate is 1558-70. I still think that a break of 10% and possibly more is likely before the ES can climb above the 1546-87 resistance zone by any significant amount.
QQQ:  Headed for 73.   
TNX (ten year note yield): Bond yields are going much higher as the market begins to anticipate stronger economic growth. The first upside yield target for the 10 year is 2.50%.
Euro-US Dollar: The euro has spent several days trading above its 20 day moving average and it looks like a swing to 1.40 has begun.
Dollar-Yen: I think this bull market has further to go, probably to 100-01.
May Crude:  As long as crude does not spend much time above 100 I will stick with my view that it is headed below 70.
June Gold:  Support is in the 1530-50 zone lows of this trading range
May Silver: Support is at 26.00.
Google: Now headed for 950.
Apple:  Longer term downside target is 350 and near term support is 390. Meantime resistance above the market is at 480.

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