Tuesday, March 22, 2011

Guesstimates on March 22, 2011

June S&P E-mini Futures: Today's range estimate is 1285-1300. I think the next development will be a drop to 1225-35 which should end the correction which began from the February top. 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: Intervention by the Bank of Japan and the Fed rallied the yen to 82.00. I think 83.50 is the upside potential. After that the drop to 70.00 should resume.

May 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.


MKS said...

The tone of this market is strangely different in the last 6 months.

Previously, when you predicted a "Target" for correction, the market always overshot to the down side.

Now, when you predict a trarget - for eg 1220-1230 for the correction, the market never even gets there!!

sneads11 said...


This market has shown amazing strength, 1225 seems to be the consensus of what I see out there, the timing seems to be about two weeks. Alcoa kicks off earnings April 11, possibly a good time for another spike up? Thanks, appreciate any comments.