Wednesday, September 16, 2009

Guesstimates on September 16, 2009

December S&P E-mini Futures: Today's day session range estimate is 1040-1057. Midpoint resistance at 1054 should produce a break of 30-40 points. I still expect the e-minis to 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 has almost reached 1700. Continuation up to 1900 is likely.

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

5 comments:

andi said...

what is this futia? you showed 1054 as the line in the sand..now u r showing 1057 as upper end? what gives?

Carl Futia said...

andi:

No offense, but are you an idiot? Stay away from the markets and save yourself some money. Read my post "Should You Speculate" on the right hand side of this blog.

MC said...

...some people just need it the hard way to understand what they really are, helpless. MC

CJ said...

this market has confused even the best notwithsatnding you, Carl. Is it possible or what are the odds we break through the 1054-57 level and just keep grinding higher?

Kishore said...

Carl's target of ES @ 1054 reached!

Carl, as you made your prediction quite some time back, your straightforward, single-minded and, above all, accurate assertions are a lot better than the ambiguity of many world class astrologers. Moreover, as your assertions take into account the ongoing changes in the market, they are not cast in concrete as "destiny" or fate of the market.

Sorry, if you find comparison with astrologers to be derogatory but that has not been my intention.

It must be the binoculars!

Congratulations!