Thursday, February 16, 2012

Guesstimates on February 16, 2012

March S&P E-mini Futures: Today's day session range estimate is 1330-1342. It looks like of reaction of between 35 and 60 points is underway. Any reaction is only a reaction within a larger bullish trend. A rally from the November 25 low at 1147.50 which matches the size of the October rally would bring the ES to 1370. The May 2011 top was at 1373. I expect the market to move well above the1400 level over the next few months.

QQQ: Resistance stands in the 63-65 zone and a break to 59.50 will probably be the next development.

TNX (ten year note yield): The 10 year yield has started a move to 2.50%.

Euro-US Dollar: The rally from 1.2623 should continue to 1.3540 before the market turns down once more. Meantime support is at 1.2940.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.

March Crude: An extended upswing is underway. It will probably take crude to 114 or so.

GLD – April Gold: A move to 2100 is underway.

SLV - March Silver: I think silver is headed for 50.00.

Google: Google is now headed for its 2007 top near 750.

Apple: Next resistance is at 545. Support is at 487.

1 comment:

marcusbalbus said...

the most colossally boring market in the most colossally boring times (market moves by gov action).