September S&P E-mini
Futures: Today's
range estimate is 1400-1412. Over the
next month or two the market should move above 1450.
QQQ: A move to 76 is underway.
TNX (ten year note
yield):
The 10 year yield has started to rally.
If this rally has legs it could easily push the 10 year yield to 2.50% or even
higher. The bond market is anticipating a revival of economic activity in the
US.
Euro-US Dollar: Resistance above the
market at 1.2600 has been reached. The next development should be a drop to 1.1900.
Dollar-Yen: This market is headed
for 75 and lower.
October Crude: The market should stop
near 96. I think the next development
will be a resumption of the bear market in crude. Next downside target is 66.
GLD – December Gold: The
market dropped a few weeks ago to the vicinity of the September and December
low points at 1544 and 1529 and has started to rally. I think a sustained up
move is underway.
SLV - December Silver: A sustained move up is
underway.
Google: Google held support
near 562 and now is headed up to 750.
Apple: AAPL
is headed to 690-700. Support stands at 645.
2 comments:
Yesterday you wrote: "The market's refusal to follow through on its rallies from the 1395-97 range makes it likely that a drop to 1385 or so will develop before a significant up move begins."
Since this is missing today in your 'guestimates' should we assume a downturn is now less likely to occur, or does your comment of Sept 4 still apply?
1412 ...it was a clear day 1400--1412 trade but news like things affected but atlast here 1412 is.
I learnt from you but I'm glad I am a reaaly proven good student so far.
Thank You.
A great day,Sir!
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