Wednesday, October 26, 2011

Guesstimates on October 26, 2011

December S&P E-mini Futures: The market has reached the 1240-50 target zone. The next big move will be downward. Today's day session range estimate is 1224-1241.

QQQ: Next big move from here will be downward.

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 about to start. Support is at 345.


janet said...

Hi Carl, gold broke above resis. and is above 1720, what do you think???A buy???? TIA

Carl Futia said...

Sorry, Janet, but I don't offer trading advice!

janet said...

Hi Carl, I was just asking if you think gold is now in a bullish trend yet?? I'll see if your view on gold changes tomorrow on your board. Thanks

Adsense said...

Hey Carl
well the upward movement this week vertainly fits the low to high counts i was noting last week , however i will also note the 200 day pivot along with the 200 day moving average ( O H L C / 4 ) has also turned up , normally this would be a bullish signal and does give me a bit of a warning sign .
the 10 day advance decline chart is fading from its uppper range test on oct 21 and the 10 trin is on a sell signal . we will see how well the bear cycle proves itself following mondays close ( oct 31 )
if it is to work it im;lies the bulish seasonal trend from nov 7th to jan 16th would fail and im not exactly sure how this will play out at this junture only concern is the time factor and it im;plies we are forming a top of importance
good luck

my143life said...

Do the predictions still stand? The futures are peaking at over 1260 and seems they are still on turbo.