Thursday, October 22, 2009

Guesstimates on October 22, 2009

December S&P E-mini Futures: Today's day session range estimate is 1065-1080. I now think the drop from yesterday's high will carry the e-minis down to 1050 or so over the next few days. I am still expecting a rally to 1120 or higher after this break ends.

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.

1 comment:

J said...

Why do you think oil will go down to $50?