Monday, October 12, 2009

Guesstimates on October 12, 2009

December S&P E-mini Futures: Today's day session range estimate is 1065-1080. A move to 1120 is underway.

QQQ: Next upside target is 45.00.

TYX (thirty year bond yield): Yields have dropped more than I expected. Still I think this market has a good chance of holding the 3.90 yield zone and then starting a move to 5.00%.

TNX (ten year note yield): The 10 year yield has dropped more than I expected. Still, I think that the 3.10% level will provide support and that the market will soon begin a swing up to 4.30%.

Euro-US Dollar: I think a sustained drop to below 120 is about to start.

Dollar-Yen: I think the 87.13 low will hold and that the yen will soon begin a move 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 1070. Support is at 970.

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

Google: Support is at 450. Next upside target is 550.

1 comment:

Teich said...

Hi Carl. Are you still expecting a negative 10-15 point reaction at /ES 1075 to 1080?

Some might not find today's rally convincing, as the volume in /ES is really low, because of Columbus Day.