September S&P E-mini Futures: The 1035 upside target was nearly reached last night in electronic trading. But I don't think we shall see more that a 20 point break until the e-minis reach midpoint resistance near 1054. I think today's day session range will be 1020-1035. The e-minis will reach the 1120 level by the end of October.
QQQ: Support is at 38.80. 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.
October Crude: I now think that crude is headed down to 50.00. Resistance is at 76.00.
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 420. Next upside target is 500.
2 comments:
Carl, what do you base the following comment on?
"The e-minis will reach the 1120 level by the end of October."
I mean how is that 1120 number calculated? Sorry if you have explained it in a previous post.
Thanks for the great blog.
LifeObserver
spot on! i didn't read your post until after, but I was targetting 1035.25, but ended up selling 1034.50. Excellent forecast!
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