Friday, June 21, 2013

Guesstimates on June 21, 2013

September S&P E-mini Futures: Today’s range estimate is 1584-1604. At yesterday’s close bullish divergences were visible in my advancing issues oscillators. And this morning’s New York Times ran a headline about yesterday’s stock market drop. I think a rally of 30-40 points has probably started but will end in a lower top. After that the drop to 1550 should continue.
QQQ:  Downside target is 70.00.  
TNX (ten year note yield): The first upside yield target for the 10 year is 2.50% and has nearly been reached. I think the market will move past this level to 2.85% or so and eventually reach 3.50% over the next few months.
Euro-US Dollar: The market has resumed its move up to 1.4000. Support is at 1.3080.
Dollar-Yen: The dollar-yen is holding support at 94.50. The next upside target is 107.00.
August Crude:  As long as crude does not spend much time above 100 I will stick with my view that it is headed below 70.
August Gold:  Gold has nearly reached the upper edge of the 1200-50 downside target zone. Once it does I think a big rally will begin and carry the market back to 1500.   
July Silver: Initial downside target is 20.00 has been reached. Resistance above the market is at 24.00.  
Google: Support is at 800 and I think the next step up will carry GOOG to 975.
Apple:  Next downside target is 350. Resistance is at 460.


Rob said...

Hi Carl. I was very impressed with your call on the bump up we just had. I see we have pierced your target on the QQQs of 70.00 as we dipped down to 69.84 so far today. Do you have a new target? I'm pretty sure we'll need it, as my long/short numbers are still looking like we're just starting this decline, no low in sight, notwithstanding any brief rallies. Thanks.

Bruno h said...

Rob, all your comments on long/short number were quite interesting. Are you willing to share which numbers exactly you're following? In any case thanks