March S&P E-mini Futures:
Today's
day session range estimate is 1517-1527. It is likely that the ES will rally to
1546 during the next few weeks.
QQQ: The Q's are now headed for 73.
TNX (ten year note
yield):
Bond yields are going much higher as the market begins to anticipate stronger
economic growth. The first upside yield target for the 10 year is 2.50%.
Euro-US Dollar: The ECB is pursuing a
tighter monetary policy than the Fed and that will move the Euro to 1.40 or higher. There
is support at 1.3300.
Dollar-Yen: I think this bull
market has further to go, at least to 96 or so.
March Crude: The September 2012 top is just above 100 and
unless the market starts accepting prices above that level I will stick with my
view that it is headed for 70 and lower. Resistance above the market is now at
101.
April Gold: Gold is likely to find support near its last
two lows in the 1530-40 range.
March Silver: Silver should find
support near the 26.00 level.
Google: There are several old
tops in the 640-670 range which should be strong support for a move up to 800
and higher.
Apple: During the current rally in the averages AAPL
has underperformed the market and GOOG. Longer term downside target is 350 and
near term support is 435. Meantime resistance above the market is at 525.
No comments:
Post a Comment