Monday, October 17, 2011

Guesstimates on October 17, 2011

December S&P E-mini Futures: The market is headed for 1250. Today's day session range estimate is 1203-1223.

QQQ: Now headed for 59.00.

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 at its historical low but will soon start a move to 4.50%.

Euro-US Dollar: Resistance above the market is at 1.3950. The euro is likely to drop to 1.20 over the coming months.

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

December Crude: The market is now headed for 55-60. Resistance above the market is at 90.

GLD – December Gold: Gold bounced off of support at 1550 but should hold resistance which I now think stands at 1710. Next downside target is 1400.

SLV - December Silver: Silver is now headed for 25.00. Resistance above the market is at 33.75

Google: Downside target is 375.

Apple: Upside target is 435 was nearly reached. An extensive downtrend is underway. Support is at 345.

5 comments:

Gooner70 said...

Hi Carl.

I have been a long-time admirer of your work. I am wondering if you have recently updated your 3 Peaks and Domed House SP500 view?
.

Carl Futia said...

Gooner:

http://carlfutia.blogspot.com/2005/06/george-lindsay-posts.html

cn said...

Range 1,204.40 - 1,224.47

ENCORE BRAVO !!!

Gooner70 said...

Carl

Thank you for that.. I'm pretty much in agreement. - And yes Carlson's book is excellent, a rare thing, - a book that was waiting to be written.

I have been following a similar pattern to your 3PDH on the AUDUSD for some time, which as you know correlates wonderfully with the SP500 (At least over most of the past few years). - I have updated my own blog today with my SP500 3PDH using Carlson's interpretation of Lindsey.

The link is here if you wish to see it: http://hometraderuk.blogspot.com/2011/10/3-peaks-domed-house-on-sp500.html

Warm regards

Steve

lilies said...

Carl,

with the market having so much triple ETFs now, does it change technical analysis in anyway, like bottom cannot really be too low , I dont know about the top though, in hindsight if i know what these triple etf can make me , i would of take some risk going in when sp500 was in the 600s etc...