Wednesday, November 09, 2011

Guesstimates on November 9, 2011

December S&P E-mini Futures: Today's day session range estimate is 1225-50. I think that there has been a genuine upside breakout from the August-October trading range. If the market closes below 1208 this coming Friday I will reassess this view but failing this I think the current swing will put the ES above 1300.

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 at 1.3500. I still think the trend in the Euro has turned up and that the market is headed for 1.5000.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.

December Crude: Resistance above the market at 94 has been taken out. I think this means that a more extended upswing is underway. It will probably take crude back to 114 or so.

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.

1 comment:

Michael said...

I'm sorry Carl, but a simple "measured-move" of 77 points (1292-1215) subtracted from Tuesday's high at 1277.55 will now target the 1200 SPX level.