Wednesday, July 15, 2009

Guesstimates on July 15, 2009

September S&P E-mini Futures: After yesterday's day session close the e-minis rallied to and above resistance which stood in the 905-910 zone. This is one more piece of evidence that the current rally will continue at least into the 965-80 zone. Meantime I expect today's day session range to be 900-920.

QQQ: The next upside target is 39.90.

TYX (thirty year bond yield): Support is at 4.20%. The next big move will be a swing upward in yield to above the 5.00% level.

TNX (ten year note yield): Support is at 3.25%. I think that the next swing up is about to begin and should take the yield on the notes to 4.30%.

Euro-US Dollar: There is no sign of a top. Support is at 137.50 and I think the market will continue upward to 146.00.

Dollar-Yen: The yen has reached the 92.50 downside target and soon will begin a move up to 105.00.

August Crude: The trend in crude oil is now downward and will carry the market as least to the 55.00 level. Resistance above the market is at 65.00.

GLD – August Gold: Support at 920 was broken. I want to give this uptrend the benefit of the doubt so I will wait for weakness below 900 before I conclude that the market is headed much lower.

SLV - September Silver: Silver is headed to 1700. Support is at 1250.

Google: Support is at 395. Next upside target is 500.


PM said...

Good Morning Carl,

According to my model, a close today above 909.50 will confirm that the correction is completed and that we should move higher from here. My next absolute maximum high (although no guarantee that we'll ever reach it) is 1069.60, give ot take a few ticks.


Kindest regards,


extrader said...


extrader said...


Fermin said...

Ex trader:
"tomorrow should be a down day in the SPX... coming up against resistance at 907-912-918!"
Was the down day supposed to be today (Wednesday) or tomorow (Thursday)?, just to confirm.
Best Regards.

Great job Mr. Futia, thank you very much for your blog, your patiente and insight of the markets is awesome.

extrader said...


Yes the down day was for Today WED.