December S&P E-mini Futures: Today's day session range estimate in the December '11 contract is 1172-1192. The ES is now headed for 1240. If the market drops below 1164 first I will give up on that target and conclude that it is headed for 1100 and 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 market is headed down at least to 1.3500 and more probably 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.
1 comment:
Hi Carl,
How are you doing?
I really think that a bigger move is underway for Gold. Nevertheless, I truly believe that we will have to wait at least one week.
Stay cool!
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