December S&P E-mini Futures: Today's day session range estimate is 1198-1228. I still think that the October 4 low will hold. If the market closes this Friday below 1216 I will reassess this view.
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: Support is now at 1.3500. I still think the trend in the Euro has turned up and that the market is headed for 1.5000. A New York close this Friday below 1.3800 would probably change my mind about this.
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 think gold is headed for 2100.
SLV - December Silver: I think silver is headed for 50.00.
Google: Google is now headed for its 2007 top near 750.
Apple: Upside target is now 475.
Here we go. MF Global filing, Greece about to throw a spanner in the works and all the hallmarks of Wave 3 action commencing to the downside.
ReplyDeleteStill think October will prove to be THE biggest bull trap in history.
This could get really ugly really quickly
In the game of speculation, One must buy fear to win.
ReplyDeleteIn looking back, I have too many regrets that I did not buy fear.
tomorrow is bEN speech ..with gdp 2.5 how can he release the QE3 ?
ReplyDeletemeanwhile tvix shoots up 33% in a day
OCT 4rht LOW WILL HOLD? A mere 200 points below! A brave call
ReplyDeleteHey guys,
ReplyDeleteI see an incredible similarity on the daily charts when comparing the price action from March 9-30 2009 to the price action since October 4. What this precedent would imply is that we are bottoming now, and November will be a wild sideways month with an upside bias.
The burden of proof is on the bulls now. Did the S+P 500 just complete a bear market rally, after May-Oct’s clear five wave drop from 1371?
ReplyDeleteJust In case if S+P500 drops further as expected,Watching 1183-1200 support .
Neautral in medium term is more likely.Friday closing is v.important .