Wednesday, March 19, 2014

Guesstimates on March 19, 2014

June S&P E-mini Futures: Yesterday the ES put in its second bullish day above the old support level at 1846. I think this means that the drop from 1880.50 ended at 1823.50 and that the market is now headed above 1900.
QQQ:  Upside target is now 94.
TNX (ten year note yield): I think the market will move to 3.50% over the next few months.
Euro-US Dollar: The Euro is headed up to 1.43.
Dollar-Yen: The dollar-yen is headed for 107.00.
May Crude:  I now think the rally above the 102-03 level was just the last gasp upward prior to a more substantial decline. Downside target is 92 but I think that may well be only the first stopping point in a bigger decline.
April Gold:  The market is headed above 1400.
May Silver: A move as high as 26.00 is underway.
Google:  The market averages have turned up so Google will probably hi the 1250 target soon.
Apple:  A drop below its 200 day moving average, currently at 492, would be very bearish. In the mean time I still think a rally to 600 or above is more likely than not.  

1 comment:

AM said...

Carl, time to flip gold forecast again? 66$ down draft so far in the price of gold, bigger than any correction size since january.

Oil, and silver, and dollar spike seem to add to the bear camp.