Friday, March 15, 2013

Guesstimates on March 15, 2013

June S&P E-mini Futures: Today's day session range estimate is again 1550-1560. The ES has reached the 1546-1587 long term resistance zone. I think a drop of 10% or more is likely to start within a few weeks.  
QQQ:  The Q's are 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 euro is headed for 1.2700. Longer term upside target remains 1.40.
Dollar-Yen: I think this bull market has further to go, first to 96 and then probably to 100-01.
April Crude:  As long as crude does not spend much time above 100 I will stick with my view that it is headed below 70.
April Gold:  Support is in the 1530-50 zone lows of this trading range
May Silver: Support is at 26.00.
Google: Now headed for 950.
Apple:  Longer term downside target is 350 and near term support is 390. Meantime resistance above the market is at 480.


Unknown said...

Good morning Carl,

I wanted to first thank you for your time and effort you spend on your blog and to help others.

I also had a question in regards to the EUR/USD outlook.

Do you think we see 1.27 or so print before the move to $1.4 or do you think we are seeing a bottom making process over the last few weeks?

Thanks in advance...


Bill said...

Interesting, hollywood actress Mila Kunis that never invested in stocks in her life has just moved from cash to stocks. Is this a contrarian indicator that foreshadows a market drop? Here's a link to the article and video. Hopefully this chick doesn't lose her hard earned dollars.