Tuesday, November 24, 2009

Guesstimates on November 24, 2009

December S&P E-mini Futures: The day session range estimate is 1100- 1112. I think the 1126 level will be reached within the next week or so.

QQQ: Next upside target is 45.60. Support is at 43.25.

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.

January Crude: I think that crude is headed down to 50.00. Resistance is now at 81.00.

GLD – December Gold: Upside target at 1165 has been reached. Sentiment is very bullish. But there is still no convincing evidence for an imminent top. So I now think that continuation upward to 1230 is likely.

SLV - December Silver: The 1900 target has nearly been reached. Still no sign of a top so continuation upward to 2100 is likely.

Google: Support is now at 525. This step upward will carry to 610.

2 comments:

jwalker46 said...

Carl, Your current view on the Euro/$ that "a drop to below 120 is about to start" was first posted on Sept. 25th.

For those of us who (used to) think "about to start" meant "soon", can you suggest *when* ????

me said...

A triangle has formed around mid-day trading. A large move is going to happen, either up or down. It has to make its decision. Looks like it's going up by my charts.