Thursday, September 08, 2011

Guesstimates on September 8, 2011

September S&P E-mini Futures: Today's day session range estimate is 1186-1206. The ES is now headed for 1240. Once that level is reached I think the market will begin a moveto 1100 and lower.

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: The market is headed down at least to 1.3500 and more probably to 1.2000.

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

October 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.

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.

1 comment:

The Worst Trader said...

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The Worst Trader