Wednesday, January 18, 2012

Guesstimates on January 18, 2012

March S&P E-mini Futures: Today's day session range estimate is 1290-1303. It looks like the market is about to break at least 40-50 points . The longer term trend is upward. A rally from the November 25 low at 1147.50 which matches the size of the October rally would bring the ES to 1370.

QQQ: Now headed for 63.

TNX (ten year note yield): The 10 year yield has started a move to 2.50%.

Euro-US Dollar: Next support is at 1.2620 and a move to 1.2400 is in the cards. . Resistance above the market is at 1.3030 . I think the Euro is "decoupling" from the European and US stock markets because the European Central Bank has made an implicit commitment to provide whatever liquidity is necessary to the EU banking system.

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

March Crude: An extended upswing is underway. It will probably take crude to 114 or so.

GLD – February Gold: I think gold will probably drop to 1510 or so and then begin a move to 2100.

SLV - March Silver: I think silver is headed for 50.00. Support is at 26.00.

Google: Google is now headed for its 2007 top near 750.

Apple: Upside target is now 475.

1 comment:

Adsense said...

Hi Carl
You may not agree with this but ill give you my thoughts
basically my thoughts are if something works in its intended time period it should also work
out side those time periods on longer and short term chart patterns. the 3 peaks domed house pattern has proven itself to me in that regards yet for the past few years i have been trying to figure out a valid mid section count in a longer term time horizon and im begining to see signs of it .
this being a monthly chart which i know is outside the parameters as set by lindsay .
point E to H i have noted in shorter term charts tend to have equal time distances so i like to see that as a guide .
placing point E in sept 2009
you get the basic E F G up into april 2010 . ( monthly chart )
the drop that followed would be point H that came in july 2010
point E to point H measures 10 monthly bars and adding 10 bars you get the peak in may 2011.
point E to point J ( may 2011 )
counts as 20 monthly bars hence its targets a low point in point A
in Jan is the odd part to this and weather there is anything to this in the future in regards to the mid section counts remains to be seen. point E plus 10months = H plus 10 months = J plus
10 months = march 2012 .i therefore
will label a high if it comes in march 2012 as point L and look for a 3 wave decline to unfold into year end into jan 2013 .
the low in july 2010 ( pt H ) tot he high in may 2011 ( pt J ) can also be conisdered a low to high to high count which would come in march as point L ; im considering this a long term asscending mid section count as apposed to your deceding mid section you spoke of back in 2010 .lastly since i noted point E to J targeting jan 2013 it should be noted yet unproven to me
that point G april 2010 to point J
may 2011 would be a top to top to bottom count into june 2012 .
a bounce from june into july would be labeled point M followed by a decline in jan 2013 .
weather it works or not remains to be seen yet it apears to look like a clean pattern using the monthly spx cash index .
lastly there is a short term count calling for a high on thursdays close yet it is minor to the pattern i just mentioned
any thoughts ??