Tuesday, October 27, 2009

Guesstimates on October 27, 2009

December S&P E-mini Futures: Today's day session range estimate is 1055-1072. The market is on its way to 1050.

QQQ: Support is at 42.30. 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 is now at 81.00.

GLD – December Gold: The 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.

14 comments:

Aarpenn said...

Carl, you have the date wrong, Oct 2, instead of Oct 27. No big deal. FYI

andi said...

today most likely scenario is back testing of ES1075.....if market stall there, open your short position right there...the drop could be substantial (~10% or so)//so folks watch 1075....

extrader said...

Max Low today I am looking for 1055-1058 area... should bounce from that level

extrader said...

Also, keep in mind i think this week we will test 1045, could be today tomorrow etc...

DW said...

think we are going to break through resistance levels and get up into the 1080s today.

jeff said...

the bottom trend line on the S&P since March 2009 is currently 1052(tomorrow will be 1055). Putting aside all of the hourly chart noise, this level is critical and has twice proven a great buy point. If it holds, than it will be business as usual for the longs. If it breaks, that would be a definite change in character to this market. Until this trend changes, I will continue to respect it and enjoy the trend up. One day it will change, but that day is not today.

Until then, don't fight the trend.

Enky Nakamura said...

thanks for the range Carl, i closed my short with the nasdaq 100 when S&P reversed around your target of 1055.
bye bye

extrader said...

Be careful going Long today... I think we are setting up for another leg down in this market which could take out the 1056-1058 area and land us down to the 1045 area... I will be shorting every bounce!

Good Luck

Kishore said...

andi and extrader, please keep your advice and your predictions that are unaccompanied by your reasons to yourself!

extrader said...

Fair enough Kishore, I will just keep my mouth shut!

Wags94596 said...

I think that some of you guys need to look at actual sectors (such as the OIH, coal, mining, drilling, energy, etc ) to get a better FEEL for where the support levels are... instead of simply relying on the SPX.

If in fact the DOLLAR is the name of the game right now, the above groups are very important and need a much closer look.

Wags94596 said...

FXE (euro) retraced 50% of the rally off the October 1st low today at 147.68

Also, solid support coming through at the 147 level via MA's.

Aarpenn said...

Kishore, you need keep your eyes shut. Why don't you let traders share their opinion?

Extrader - don't stop writing here, you have been right a lot of times.

Kishore said...

Aarpenn, I was only asking them to give the reason behind their advice predictions. Even if the advice and predictions are based on Astrology, it will be fine, so long we know that it is more than a wild guess.