December S&P E-mini Futures: Today's day session range estimate is 1109-1137. The ES is now headed for 1105 and possibly lower.
QQQ: Now headed below 50.00.
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 near its historical low but will soon start a move to 4.50%.
Euro-US Dollar: The 1.3500 target has been reached. Resistance above the market is at 138.50. I think we have seen only the first phase of a much bigger drop to 1.2000.
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.
October Crude: Resistance above the market is at 92 and the next step down should take it to 60. I think this is a bear market in crude which is likely to continue down into the 50-60 range.
GLD – December Gold: Gold s headed for 2060.
SLV - December Silver: A move to 50.00 and higher is underway.
Google: I think much bigger drop than I expected is underway. Downside target is 375.
Apple: Upside target is 435. Support is at 345.
5 comments:
still looks like 1240 is top of the bear flag pattern...is 1240 still completely out of the question?
1260 is now the top of the bear flag pattern.
Carl, please consider a contraian view that we are now establishing point 14 and the market is heading higher. Also please look at- http://www.gold-eagle.com/gold_digest_08/hamilton090911.html
Hey there Carl,
I agree with you that the market is likely headed for 1100 or lower. I see a head and shoulders on the hourly chart of the S&P and Dow (LH - 8/17, H - 8/31, RH - 9/8).
PRB, thanks for that web-site. I enjoyed the article.
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