Friday, October 16, 2009

Guesstimates on October 16, 2009

December S&P E-mini Futures: A drop into the 1065-75 range is underway. [Today's day session range estimate is again 1075-1090. The market should reach 1120 by the end of the month.

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 think that crude is headed down to 50.00. Resistance at 76.00 has been broken but not by much.

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: Next upside target is 550 has nearly been reached. Support is now at 490.


MK said...

Hi Carl,

You called it - the market obliges!

SP held initial support - so maybe a gap fill to Tuesdays close later or Monday and we head up again.

Regards - MK

valera54 said...

h Carl,
what way after 1120?