Wednesday, May 04, 2011

Guesstimates on May 4, 2011

June S&P E-mini Futures: Today's range estimate is 1348-61. The ES is headed for 1400 and above.

QQQ: Upside target is 63.00.

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: There is still no sign of a top. Support remains at 146.20. Next upside target will be 153.50.

Dollar-Yen: The market is headed down to 70.00.

June Crude: Next step up will carry crude to 118. Support is at 106.

GLD – June Gold: Support is at 1510 and the next upside target is 1630.

SLV - July Silver: Next upside target is 56.00. Support at 39.00.

Google: GOOG is headed for support at 495 from which point the move to 700 and above will resume.

Apple: Next upside target is 410. Support is at 310.

1 comment:

Bill said...

Supply shock? The ISM came in at 52, sounds like the economy is grounding to a halt. Will this mean a bigger correction over the coming days?