Thursday, March 17, 2011

Guesstimates on March 17, 2011

June S&P E-mini Futures: Today's range estimate is 1255-85. I think this correction is pretty much over although a lower low near 1225 is probably in the cards after a rally of a couple of days. Once this correction is complete the bull market will resume.

QQQ: I expect to see new bull market highs after the current break ends.

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 move up to 145.00.

Dollar-Yen: The 78.00 - 79.00 range was reached and exceeded yesterday. I think the Fed will remain ahead of the Bank of Japan in terms of quantitative easing. I conclude that continuation downward to 70.00 is likely over the next few months.

April Crude: Crude will continue upward to 112. Support is at 97.

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

SLV - May Silver: Silver has reached the 36.00 upside target but there is still no sign of a top. Next stop is 39.50.

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

Apple: Next upside target is 375. Support is at 310.


dcatlowpj said...

More commentary on the Dollar and Bonds is in order, Carl.

q said...

hi CF, I am nearly always in agreement with your views and targets. Indeed I also calc SP500 target of 1220 ish, same as you. But in light of the recent events, the pivotal turn in USDJPY and the coordinated G7 central bank intervention being announced today, I now think we may see new bull market highs next. I calc 1300 as the next critical point on the upside for the sp500that will determine whether we see 1220 or not. I tried to elaborate on this at

Unknown said...

she thinks it makes sense to participate in its course, I live in Italy
I do not speak English because I use a google translator
think I can understand the same run its course?
thanks for the reply as of now