Friday, May 29, 2009

Guesstimates on May 29, 2009

June S&P  E-mini Futures: I estimate that today’s day session range will be 905-925. The e-minis are on their way into the 950-80 zone.

QQQ: The next upside target is 39.90.   

June Bonds: A bear market is underway in the bonds. Next downside target is 115.  

June 10 Year Notes: I think a bear market in the notes is underway. Next downside target is 115.

Euro-US Dollar: The euro has reached the 140.00 target but as yet there is no sign of a top. Support is at 135.50 and I think the market will continue upward to 144.00.  

Dollar-Yen: The yen will probably drop to 91.50 and then begin a move up to 105.00.   

July Crude: Crude has reached the 64.00 target but there is still no sign of a top. Nex upside target is 69.00. support is at 60.00.  

GLD – June Gold: The market is headed for new highs near the 1050 level.

SLV - July Silver: Silver is headed to 1700.

Google: Support is at 360. Next upside target is 450. 

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