Wednesday, October 05, 2011

Guesstimates on October 5, 2011

December S&P E-mini Futures: Yesterday's late rally turned the short term trend upward and the market is now headed for 1156 or so. Today's day session range estimate is 1111-1141.

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

Euro-US Dollar: The Euro is approaching support in the 1.30-1.31 range. Resistance above the market stands at 1.3550. 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.

November Crude: The market is now headed for 55-60.

GLD – December Gold: Gold bounced off of support at 1550 but should hold resistance at 1670. Next downside target is 1400.

SLV - December Silver: Silver is now headed for 25.00.

Google: Downside target is 375.

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

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