Tuesday, April 17, 2012

Guesstimates on April 17, 2012

June S&P E-mini Futures: Today's day session range estimate is 1366-1381. I still think that last week's1352.50 low will hold but a weak close today would change my mind. Meantime I will stick with my view that a move to new bull market highs is underway.

QQQ: Next upside target is 70.00.

TNX (ten year note yield): The 10 year yield has drifted back into its recent multi-month trading range but I think support at 1.95% will hold. I still think that the 10 year yield has started a move to 3.00%.

Euro-US Dollar: The Euro has rejected the 1.3300 resistance level. The market is headed for 1.2600.

Dollar-Yen: Support is at 81.00. As long as the yen doesn't spend more than a day or two below that level I will stick with my view that it is headed up to 90.00

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

GLD – June Gold: Gold will probably drop to 1585. A move to 2100 is underway.

SLV - May Silver: I think silver is headed for 50.00. The 31.50 level is now support.

Google: Google is now headed for its 2007 top near 750. Support is at 590.

Apple: Resistance now is at 650 and support is now at 575.

1 comment:

hayfield said...

Where we at with the 'Doomed House' scenario? Do you have an update coming on it?