Wednesday, March 02, 2011

Guesstimates on March 2, 2011

March S&P E-mini Futures: Today's range estimate is 1289-1307. I think the market is about to drop into the 1260-70 zone. But once this reaction is complete I expect to see new highs for the bull market.

QQQ: A drop to 54.00 or so has begun, but once it is complete I expect to see new bull market highs.

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

April Crude: The 102 price target was hit last week. The market is still resilient. A move as high as 104 would mean that continuation up to 112 is likely.

GLD – April Gold: A move to new highs is underway. 1495 is the next upside target. Support is at 1315.

SLV - March Silver: Next upside target is 36.00. Support is at 25.50.

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.

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