Monday, March 22, 2010

Guesstimates on March 22, 2010

June S&P E-mini Futures: Today's range estimate is 1145 - 1157. Overnight the e-minis dropped as low as 1146.75, just into the target zone of 1141-47 for the reaction from 1165. I expect the market to begin a move to 1200 this week.

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.

May 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.

1 comment:

FH said...

Why do you say the range estimate is "again" 1145-1157? When did you use this range before? Last Friday the range estimate was 1157-1170.