Tuesday, November 01, 2011

Guesstimates on November 1, 2011

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.

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6 comments:

  1. beetlejuice11/01/2011 09:39:00 AM

    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.

    Still think October will prove to be THE biggest bull trap in history.

    This could get really ugly really quickly

    ReplyDelete
  2. Edwin11/01/2011 11:15:00 AM

    In the game of speculation, One must buy fear to win.

    In looking back, I have too many regrets that I did not buy fear.

    ReplyDelete
  3. TeslaSignals11/01/2011 01:15:00 PM

    tomorrow is bEN speech ..with gdp 2.5 how can he release the QE3 ?
    meanwhile tvix shoots up 33% in a day

    ReplyDelete
  4. tooearly11/01/2011 02:02:00 PM

    OCT 4rht LOW WILL HOLD? A mere 200 points below! A brave call

    ReplyDelete
  5. Graph115911/01/2011 05:00:00 PM

    Hey guys,
    I 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.

    ReplyDelete
  6. Nav11/01/2011 06:56:00 PM

    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?
    Just 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 .

    ReplyDelete