Tuesday, November 03, 2009

Guesstimates on November 3, 2009

December S&P E-mini Futures: Today's day session range estimate is 1020-1038. I think that the 1020 level will hold and that the next significant development will be a rally to 1120 or higher.

QQQ: Support is at 41.10. 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: Support is now at 490. Next step upward will carry to 610.


andi said...

wow..carl keep lowering his low target...1020 is a line in sand for many..what would The big guys do? They may try to trap by overshooting by 4-5 pts and then goes back up..

MA said...


The estimates you provide each day - are these for just the upcoming trading session or include extended electronic trading as well?

jeff said...


I admire your conviction. If this e-mini chart pattern were to occur, it would mirror that of the XLU. In sum, the XLU took out it's March trendline a month ago, almost made it's first lower low(but not quite), only to make a slightly higher high before falling again.

Wags94596 said...

Euro slammed this morning and breaks 40 day MA support at 147.00

Not good for the Bulls.

jeff said...

for now, stochastics on the 30 minute chart are headed down. I use a 5,3,3 parameter.

extrader said...

The line in the sand is actually around 1005-1010... jmho