Friday, September 11, 2009

Guesstimates on September 11, 2009

December S&P E-mini Futures: Today's day session range estimate is 1030-1045. A move to midpoint resistance at 1054 is underway. The e-minis will reach the 1120 level by the end of October.

QQQ: Support is at 38.80. Next upside target is 42.00.

TYX (thirty year bond yield): Support is at 4.20%. I think a swing to above the 5.00% level is underway.

TNX (ten year note yield): Support is at 3.25%. I think a swing up to 4.30% is underway.

Euro-US Dollar: There is no sign of a top. Support is at 137.50 and I think the market will continue upward to 148.50.

Dollar-Yen: The yen has started a move up to 105.00.

October Crude: I now think that crude is headed down to 50.00. Resistance is at 76.00.

GLD – December Gold: Still expecting a move to 1070. Support is at 900.

SLV - December Silver: Silver is headed to 1700. Support is at 1250.

Google: Support is at 420. Next upside target is 500.


Urban Carmel said...


Do you see any watch outs we should be concerned about wrt to the rally in bond prices and consequent fall in yields?

Many thanks,

FH said...

SLV is close to 17. It had a high today of 16.66, so far. I would appreciate an update on SLV. Thanks.

Anonymous said...

Urban, drop in the yields should, most probably, make Carl even more of a happier bullish camper!

Yes, those who continue to short this raging bullish phase of the market should probably be concerned.

lilies said...

you did it again , how you manage to stay out today is amazing,
10ish would be the buy time, and the set up looks good too , it dips and then goes up , but you did not bite :))

Anonymous said...

Carl, as lilies brought up an important question, I looked for your postings on management of risk and trading capital.

The following two are excellent postings:

Should You speculate?

Account and Position Size

Thank you Carl and lilies!