Thursday, August 08, 2013

Guesstimates on August 8, 2013

September S&P E-mini Futures: Today’s range estimate is 1688-1699.  Next upside target is 1720. The ES is headed to my long standing target of 1775 and possibly higher over the coming months.
QQQ:  Upside target is 79.
TNX (ten year note yield): The upside yield target for the 10 year is 2.85 % but I think the market will move past this level to 3.50% over the next few months.
Euro-US Dollar: It looks like a move up to 1.400 is underway.
Dollar-Yen: The dollar-yen is headed for 107.00.
September Crude:  Crude is stalling at 108 resistance.  
December Gold:  I think a rally of $200-300 is underway.    
September Silver: The 18.00 level is support and a rally to 24.00 or so is underway.
Google: Support is at 800 and I think the next step up will carry GOOG to 975.
Apple:  Next downside target is 350. Resistance at 460 has been broken but I think AAPL will have a hard time moving above the 475-80 range before the next leg in its bear market starts.

1 comment:

Adsense said...

Hi carl
interesting day and a bit early
to claim a bottom in the metals .
yet it is across the board steel,copper,iron ore gold and silver stocks all up strong so far ,
the weakness is aluminum yet they are up also .
maybe money has shifted into the beaten down sector .