Monday, October 19, 2009

Guesstimates on October 19, 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): I think this market has begun a move to 5.00%.

TNX (ten year note yield): I think that the market has begun 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.

December 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: Upside target is 550 has been reached. Support is now at 490. Next step upward will carry to 610.

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