Wednesday, September 23, 2009

Guesstimates on September 23, 2009

December S&P E-mini Futures: Today's day session range estimate is 1060-75. I still think the e-minis will be trading in a range between 1035 and 1075 for the next few days. After this consolidation period ends the market will begin a move to the 1120 level.

QQQ: Next upside target is 45.00.

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: I think the market will continue upward to 148.50.

Dollar-Yen: The yen has started a move up to 105.00.

November 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 970.

SLV - December Silver: Continuation up to 1900 is likely.

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

2 comments:

volcanik said...

I have recently been following your blog and find it very helpful. I am a day trade scalper and trade only the /ES.

Carl, what are you current positions if any? According to your analysis, I would think of going long for the intermediate near term for the push up to 1100+.

P said...

Carl,
Trade or no trade, whether I make money off your bets or not, I am learning a lot about the right approach to get to everyone's goal here -- maximize profit. I love how you discard your criticism by flashing your trading profits. No one can be right 100% of the time and the sooner one gets over it, the better. Thanks again for such important lessons that I have earned for life as against the profits which I might just loose the next day.

Best,
PA