December S&P E-mini Futures: Today's day session range estimate is 1260-1278. I think that the October 4 low will hold for the foreseeable future and the market is headed above its May 2011 top.
QQQ: Now headed for 68.
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: I think the trend in the Euro has turned up and that the market is headed for 1.5000. Support is at 1.3950
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 94.
GLD – December Gold: I now think gold is headed for 2100.
SLV - December Silver: I now think silver is headed for 50.00.
Google: Google is now headed for its 2007 top near 750.
Apple: Upside target is now 475.
8 comments:
Also, too much leveraged money has been in risk-off/Europe "collapse" trades, which are now offsides. So, supports at 1220-1230, and 1200 seem like interim floors.
Dear Carl,
I agree, EURUSD has turned up, but I don't think that 139.50 is the support now. At least 138 should be hit before continuation up, AUDUSD to at least 103-104 and so on...
Carl, you have grit, true grit. Hope you are right on this call.
what is the "foreseeable" future?
Do you see a massive stock market crash as a real possibility? Seems like that's the only way to flush out the speculative/leveraged element from today's markets
Carl - I think your original forecast was correct - this is going to be a sell the news event especially with MF Global being taken out by Italian Bonds...
This is just the beginning, with Greece probably trying to leave the EU.
scott I agree. Carl was right the first time.
MF Global are the first sign of the next crisis.
Who is next?...
No, Carl was right the second time :)
For swing traders, this is a great BUY...
Some recovery today, retest tomorrow, and the sky is only limit then :)
Not a joke...
The comments say it all.
One nasty large range.
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