Friday, April 20, 2012

Guesstimates on April 20, 2012

June S&P E-mini Futures: Today's day session range estimate  is 1373-1383. As long as the ES doesn't spend much time below 1370 I will stick with my view that 1352.50 ended the drop from 1419.75. New bull market highs are ahead.
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
June 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: Support is now at 575.  Next upside target is 660.

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