Thursday, September 22, 2011

Guesstimates on September 22, 2011

December S&P E-mini Futures: Today's day session range estimate is 1100-1140. The ES is headed for 1050 and then for 950.

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 is now headed for its next support level in the 1.30-1.31 range.

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

November 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.


tradermike said...

are you still sticking to your 30 and 10 year yield projection after the FED statement yesterday?

Peeyush said...

I must admit that i had not been a big fan of your recommendations. I used to think you have a very one sided view of the markets. But the speed at which you changed the trades in the last couple of months has been astounding. The true sign of a great trader is the alertness to change his view and the acceptance of the new data that the markets and screens show. Many a time we see trader so married to their overall view, that they forget that the market has a mind of its own, and its always good to let the screen show the direction and work an analysis around it. Your analysis in this case has been absolutely spot on.. And i accept that this is probably the best trading I have seen in the recent past. Congratulations for this, and keep up the good work.

kcounty said...

i think it goes lower too. but after 1050, before it gets to 950, it will go through 1000. imo.

Sim said...

Bounce up on Monday onwards back to 50% fibo levels probably and then down to 1045 levels and after some retracement to 950ish . My count :)

Gold : Headed towards 1605 area in Oct / Nov thereafter move to key high areas in Del/Jan.

Silver , the spineless thing it is, should obviously follow Gold.My count again :)