Thursday, August 13, 2009

Guesstimates on August 13, 2009

September S&P E-mini Futures: I think that today's day session range will be 1000-1015. A swing up to the next upside target at 1035 is underway. I think the rally will carry the e-minis to the 1120 level over the next few months.

QQQ: Support is at 39.60. Next upside target is 42.00.

TYX (thirty year bond yield): Support is at 4.20%. I think a swing to above the 5.00% level is underway.

TNX (ten year note yield): Support is at 3.25%. I think a swing up to 4.30% is underway.

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 started a move up to 105.00.

September Crude: I am going to stay bullish for a move to 76 until and unless weakness below the 62.50 level develops.

GLD – December Gold: Still expecting a move to 1070. Support is at 900.

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

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

2 comments:

Jeff said...

Interesting call, Carl, with the retail sales down and unemployment up (just reported). I feel market pressure today, but there seems to be a rally premarket. Maybe, we'll retest the highs (S&P1012) and progress to your lower range. Granted, when has fundamental news really meant anything (in the near term)?

PM said...

Hi Carl,

Yesterday's close above 998.50 nullified the sell signal issued the previous day. We will have a confirmed buy signal for the current rally provided we close above 1013.50 today.

Thanks.

Kindest regards,

PM