Wednesday, August 31, 2011

Guesstimates on August 31, 2011

September S&P E-mini Futures: Today's day session range estimate is 1207-1227. I think the market is headed for 1220-1240. Once this target zone is reached the bear market is likely to resume.

QQQ: Support is 50.00 and upside target is now 58.

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.

September Crude: Crude has dropped as low as 75. Resistance above the market is now at 92 and the next step down should take it to 60. I think this is a bear market in crude which is likely to continue down into the 50-60 range.

GLD – December Gold: Gold is in the midst of a reaction within an ongoing bull market . Downside target is 1575. Resistance above the market is in the 1820-1840 zone.

SLV - September Silver: Support in silver is at 35.00. From there a move to 50.00 and higher should begin.

Google: I think much bigger drop than I expected is underway. Downside target is 375.

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


Mad Calf Apps said...

The first half of your prediction is playing out perfectly. Now I hope that you're only half right. ;)

EZ said...


Why all the bearisness after stating all year that the market was headed for 1400+ this year?

Carl Futia said...


Read my posts from earlier this month.

David said...

Another great call, Carl.


catherine said...

I rather doubt eur usd is going to 1.50 or above now.
It has been meandering and making no upside progress for weeks - feels very much like the stock market did at the end of July.
I think the break will come on the downside and will be quick and unpleasant. Highs of the year in and target 1,28
Rveryone who want to be short dollars is already and has been for sometime.