Wednesday, September 01, 2010

Guesstimates on September 1, 2010

September S&P E-mini Futures: Today's range estimate is 1055-1070. The ES is making another attempt at an upside breakout from its recent trading range. I think it will succeed and if it does the market will be headed for 1140 and higher

QQQQ: Headed for 47.50.

TYX (thirty year bond yield): The thirty year yield has dropped well below long term support at 3.85%. I think the market is at a juncture like that of December 2008 - fast drop in yield that will be followed by a fast rise. The bonds will soon begin a move to 5.40%.

TNX (ten year note yield): The 10 year yield has dropped more than I expected. Still, I think the next big move in yields will be upward. I think that the notes will soon begin a swing up to 4.50%.

Euro-US Dollar: Support is at 126.00 and from there a move into the 135-40 zone should start.

Dollar-Yen: The yen broke decisively below its 85.50 support. A drop into the 78.00 - 79.00 range is underway and I think an important low will form in that zone.

October Crude: I still think crude oil is headed for 50.00.

GLD – December Gold: The odds are that the market will continue upward to 1320. But any weakness below 1150 will mean that a drop to 875 has begun.

SLV - September Silver: I think silver will rally to 21.50 and then begin a move to 10.oo.

Google: The 440 level is now support. A move that should take GOOG above 700 will begin soon.

Apple: Should reach 350 (at least) before the bull market ends. Support is at 240.

5 comments:

Adsense said...

Hey carl
opolgies for myu comments the other day regarding you dismissing or ignoring lindsays work , i found your 3 peaks domed house pattern you posted and i also noted your alternate thoughts in regards to the pattern , im going to assume your thinking we are now headed towards point 15 . i dont agree but your count is valid if the aug 9 high get broken .
good luck
joe

Naveedah said...

GM!
CARL LIKE ALWAYS RULE HERE!
THINK 100000 N TIMES BEFORE TO CRICISE
CARL ,AS WE ALL ARE GETING SO MUCH FROM HERE.......ALL FREEEEEE!
MIND IT.
I'm not trading but my fellow girls(12) worked through your blog and today they made so much...bot w/you and added 1042.5.
YOU ARE INDEED A BLESSING!

Joge said...

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3732280
Please vote for carl.

sandy allred said...

Sudden sharp dollar weakness suggests a rise through 15 Sept to es 1175. At that point I expect a reversal of the trend which began in early July. By mid November the 2009 lows are likely to be challenged.

tooearly said...

Carl: I presume you mean the Dollar:yen broke support. the yen did not break