Friday, September 16, 2011

Guesstimates on September 16, 2011

December S&P E-mini Futures: Today's day session range estimate is 1195-1215. The ES is now headed for 1230-40. From there the drop to 950 or so should resume.

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 market has stalled near 1.3850 resistance but I now think a further rally to 140.50 or so is in the cards before the drop to 1.2000 resumes.

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. Support is at 1740.

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.


kcounty said...

why do discuss the next 2 moves, and not just focus on the first? That is, lets get the 1230-1240 move clear before we worry about the drop to 950.

monkeypicks said...

because Kcounty he is not sure that the move to 1230-1240 will happen so he atleast wants you to know that it could move down to 950!