Thursday, May 17, 2012

Guesstimates on May 17, 2012

June S&P E-mini Futures: Today's range estimate is 1314-1330. The ES has reached the 1310-20 target zone. I think the end of the drop from 1419.75 is imminent.
QQQ:  Downside target is 62.50.          
TNX (ten year note yield):  The 10 year yield is back to the low of its recent multi-month trading range. 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: This market is headed for 75 and lower.
June Crude: The market is headed  down to  75.   
GLD – June Gold:   The market has dropped to the vicinity of the September and December low points at 1544 and 1529. I think a sustained up move is about to start.  
SLV - July Silver: The market is getting close to its December low at 26.27 where a sustained move up is likely to start.
Google: Google is now headed for its 2007 top near 750. Support is at 590.    
Apple: AAPL is headed for 520. From there  a move above the 644 high will start. 


mike said...

Wow contrary signs everywhere from the economist to barrons online to article after article about market corrections and how to protect against coming crash, maybe just maybe they are correct this time but i wont hold my breath. carl you should have a field day with a contrary post

Graph1159 said...

This is brutal, the market goes down every day.