Friday, September 30, 2011

Guesstimates on September 30, 2011

December S&P E-mini Futures: Today's day session range estimate is 1123-1153. I think the ES is headed below its August low.

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 at its historical low but will soon start a move to 4.50%.

Euro-US Dollar: Resistance above the market stands at 1.3700. The euro 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: The market is now headed for 55-60.

GLD – December Gold: Gold bounced off of support at 1550 but should hold resistance at 1670. Next downside target is 1400.

SLV - December Silver: Silver is now headed for 25.00.

Google: I think much bigger drop than I expected is underway. Downside target is 375.

Apple: Upside target is 435. Support is at 345.


chartblog said...

Its very likely the low is in.

SPX made a higher low from the August low and is holding two key trendlines from August...

None said...

I think a true contrarian should be buying here.

All the evidence, charts, people is saying we go lower.

We go higher!

catherine said...

I completely agree with Carl's forecasts with the exception of bonds. We are still at pretty high levels on the spx and stocks in general considering where we came from at the lows. On the way up from 666, 1125 looked stratospheric and few thought we would go there. Plenty of room to go lower still from here. In the middle of the range, the majority are right.

Lama Forecasting said...

It's not really the time to start buying. The trend is down and i don't see a good counter trend trade yet.

TraderO7 said...

Might see a bounce then bows down again. Typical see saw battle between the bears and the bulls.