Thursday, August 11, 2011

Guesstimates on August 11, 2011

September S&P E-mini Futures: Today's day session range estimate is 1118-1161. I think the ES will rally to 1180-1200, then again break to 1100 or so, then put in a multi-week rally to 1200-1250.

QQQ: Support is 50.00 and upside target is still 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is near its historical low but will soon start a move to 4.50%.

Euro-US Dollar: I think this market is now headed for 1.5300. Support remains at 142.00.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.

August Crude: Crude has dropped as low as 75. Resistance above the market is at 83 and the next step down should take it to 70. I think this is a bear market in crude which is likely to continue down into the 50-60 range.

GLD – December Gold: The market has traded as high as 1777, $27 above the 1750 target. I think the next development will be a drop to 1450. Resistance above the market is at 1810.

SLV - September Silver: Resistance is at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 750 and above is underway. Support is at 530.

Apple: Upside target is 435. Support is at 345.


ukxgerard said...

Carl -- GCZ traded to a high of 1817.6 last night, FYI.



Ali said...

Carl what happened to 1400+ target is it still there?

Are you concerned about the european debt problems' impact on the stock market?

Edwin said...

yesterday was classic day for a shake -out of the weak hands...

DJI down 518 point but not supported by breadth.. $NYHL and $RHNYA.

A Short term bottom is in. rally to 50 Day SMA based on Carl's projection.

Michael said...


Time to re-evaluate your count on "3 Peaks and A Dome"???

pimaCanyon said...

Nice call on today's rally, Carl. Made your target range in one day!

Adsense said...

hey carl
so far anyway the dow has been holding its 600 dma ( OHLC/4)
today it closed back above the 500 dma , the 14 day rsi has turned up
im hesitant to consider this a 4th wave yet if so then 1200 plus minus on spx would have to hold .
lindsays book came and i read through it, no comments at this point untill i get into it .
gold needs to turn down by next week to confirm a top is in from what im looking at . the high is very similar from a price and time point of view as the high back in 1980 . we will see soon enough how important it is .