Wednesday, March 17, 2010

Guesstimates on March 17, 2010

June S&P E-mini Futures: Today's range estimate is 1147 - 1161. The ES should reach the 1200 level by the end of May.

QQQ: A rally to 50.00 is underway.

TYX (thirty year bond yield): I think this market is headed for 5.00%.

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

Euro-US Dollar: This market is now headed for support near 131.00. Resistance above the market is at 141.00. Looking further ahead I think that a drop to 125 is likely over the coming months.

Dollar-Yen: A rally to 100.00 is underway. Support is at 90.00.

April Crude: I think the market is headed for 50.00. Resistance is in the 81-83 range.

GLD – April Gold: The longer term trend has turned downward. I expect gold to drop to 875 over the next few months.

SLV - May Silver: I now think silver has started a down move that will carry it to 10.00 over the next few months. Resistance above the market is now 18.30.

Google: A move that should take GOOG above 700 is underway.


Moby Pixel said...

The headline at marketwatch says "all clear for the bulls." At the same time bears are now calling for a "sharp" reversal. I'm not sure who not to believe.

curt said...

while I have the greatest respect for Mr Futia and its obviously not wise to bet against him, I believe we will see the imminent break of 20 pts that he was calling for a few days ago, probably starting later today.