Tuesday, October 13, 2009

Guesstimates on October 13, 2009

December S&P E-mini Futures: Today's day session range estimate is again 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: Almost at 1070 but market will probably keep going until it reaches 1120. Support is at 1000.

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

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


boris said...

Couple weeks ago
In my post here I mentioned that the rally into mid october will be lead by energy and gold.

Well, now we have it. Rallies lead by these are not how the bulls markets start, but they do end with these sectors.

So, please , if 13 Oct is top ( 13 November is next date) then look for gold/energy to falter. That will be your sign

GOod Tradng All

Geo said...

Carl, You are expecting the stock market to go up, but forecast EURUSD to start a move down to 120. You think there will be a disconnect between the dollar and the stock market? So far there has been good correlation between the indices and the Euro.

Anand said...

Hi Carl - You were right on for the top of Euro at 1.4850. However it looks like it may go further up. Do you have a new target for Euro ?