September S&P E-mini Futures: Today's day session range estimate is 1018-1035. 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 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 - December Silver: Silver is headed to 1700. Support is at 1250.
Google: Support is at 420. Next upside target is 500.
4 comments:
futia thinks market & gold will go up..dollar to go down and yet oil to go down as well..even my 2 yr toddler thinks something is wrong about that..
There are a lot of things "wrong" with this Gambler's Den, i.e. Sutta Bazaar. It is bizarre, to say the least!
Sanjay, your 2 yr toddler may do better than you in this bizarre market as not knowing what you are doing may be helpful. Your "experience" may be detrimental to your performance in the market.
Sanjay,, Oftentimes when things "dont make sense" across various asset classes, it simply means the correlations are shifting. I would follow the charts rather than clinging to yesterday's correlations. I allude to this in my recent posts. -MK
Rules for playing in the Gambler’s Den:
1] If you know what you are doing, don’t do it!
2] If you don’t know what you are doing, learn from others, so you may FINALLY know what you are doing. Then, follow rule 1].
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