December S&P E-mini Futures: Today's day session range estimate is 1180-1205. The ES is headed for 1230-40. From there the drop to 950 or so should resume.
QQQ: Now headed below 50.00.
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 a rally to 140.50 or so is in the cards before the drop to 1.2000 resumes.
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.
November Crude: Resistance above the market is 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 s headed for 2060. Support is at 1740.
SLV - December Silver: A move to 50.00 and higher is underway.
Google: I think much bigger drop than I expected is underway. Downside target is 375.
Apple: Upside target is 435. Support is at 345.
4 comments:
Hi Carl, what level on the S&P must breach before you think we are headed down now and will not hit the 1240 level???? TIA
carl - are you more confident with the drop to 950 or the rise to 1240?
to me this forecast reads, "that the market should go up first then down, but might go down and then up"
The easy thing with the market, is that there are only two option, either it goes up or down.
We've just to be on the right one...
after the fed meeting it is falling today more than required..
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