Tuesday, January 05, 2010

Guesstimates on January 5, 2010

March S&P E-mini Futures: Today's range estimate for the March contract is 1118-1132. I think the market is headed for 1143 over the next week or so. I also expect the market to reach the 1170 level during the next month.

QQQ: Upside target is 47.50.

TYX (thirty year bond yield): I think this market has begun a move to 5.00%.

TNX (ten year note yield): I think that the market has begun a swing up to 4.30%.

Euro-US Dollar: A drop to 140 is underway. My best guess is that 140 will be only temporary support and that the market will drop to 125 over the next couple of months.

Dollar-Yen: The yen has moved above the 91.00 level and this means that a rally to 100.00 is underway.

February Crude: Crude has rallied more than I expected but I still think the next big move will be downward to 50.00.

GLD – February Gold: The longer term trend has turned downward. I expect gold to drop to 875 over the next few months. Resistance above the market is at 1125.

SLV - March Silver: I now think silver has started a down move that will carry it to 10.00 over the next few months.

Google: Next upside target is 660. Support remains at 565.


Aneo Designs said...


What is the amount of pullback you are expeecting after we hit 1143?

does the support hold at 1118?

Thank you!

Bill said...

The S&P has been climbing very slowly, but steadily, with very small pullbacks.

The way it's going a pullback when it hits 1143, if any, it'll be 10 to 15 points max.

Unknown said...

You've been spot on with your range calls of late. With the return of volume, I was hoping you'd begin posting your trades again. I hope you are not gonna stop posting your trades. If you'd ever consider a premium blog section for posting your trades, I'd love to sign on.

Thanks much,

kcounty said...

Ill ditto that PA - i hope carls starts posting his trades again, but i have actually more appreciative for the longer term picture.