Friday, September 11, 2009

Guesstimates on September 11, 2009

December S&P E-mini Futures: Today's day session range estimate is 1030-1045. A move to midpoint resistance at 1054 is underway. 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 148.50.

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 - December Silver: Silver is headed to 1700. Support is at 1250.

Google: Support is at 420. Next upside target is 500.

5 comments:

Urban said...

Carl

Do you see any watch outs we should be concerned about wrt to the rally in bond prices and consequent fall in yields?

Many thanks,

F&H Painting said...

SLV is close to 17. It had a high today of 16.66, so far. I would appreciate an update on SLV. Thanks.

Kishore said...

Urban, drop in the yields should, most probably, make Carl even more of a happier bullish camper!

Yes, those who continue to short this raging bullish phase of the market should probably be concerned.

lilies said...

Carl,
you did it again , how you manage to stay out today is amazing,
10ish would be the buy time, and the set up looks good too , it dips and then goes up , but you did not bite :))

Kishore said...

Carl, as lilies brought up an important question, I looked for your postings on management of risk and trading capital.

The following two are excellent postings:

Should You speculate?

Account and Position Size

Thank you Carl and lilies!