Monday, January 03, 2011

Guesstimates on January 3, 2011

March S&P E-mini Futures: Today's range estimate is 1255-1265. Short term support remains at 1237. I think a top building process is underway and will be followed by a drop of 50-75 points. Once it is complete the market will resume its advance to 1300.

QQQQ: Next upside target is at 55.00 and has nearly been reached.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think the euro will be supported near 130 and from there will move up to 145.00.

Dollar-Yen: A drop into the 78.00 - 79.00 range is underway and I think an important low will form in that zone.

February Crude: I still think crude oil is headed for 50.00.

GLD – February Gold: A move to new highs is underway. 1495 is the next upside target.

SLV - March Silver: The upside target at 31.00 has been reached but there is still no sign of a top. Next upside target is 36.00.

Google: The 540 level is support. A move that should take GOOG above 700 is underway.

Apple: Should reach 350 (at least) before the bull market ends. Support is at 265.

1 comment:

egnard said...

A drop of 50-75 points has been predicted since 12/9/2010, Blog: "a 50-75 point drop is imminent." The post included graphs/reasoning to support the prediction.

Does the condition described in that post still exist?


ps Always interesting reading.