Monday, September 24, 2012

Guesstimates on September 24, 2012

December S&P E-mini Futures: Today's range estimate is 1441-52.  The ES is headed much higher over the next few months. Support beneath the market now is at 1430.
QQQ:  A move to 76 is underway.
TNX (ten year note yield): The Fed announcement is going to push bond yields much higher as the market begins to anticipate stronger economic growth. The first upside yield target for the 10 year is 2.50%.
Euro-US Dollar: The ECB and the Fed are following polices which will move the Euro to 1.40 or higher. Next resistance is 1.3350.
Dollar-Yen: This market is headed for 75 and lower. The Japanese central bank has announced an increase in their own program of quantitative easing. But they don't have as much credibility on this score as the Fed does so I think the dollar-yen  will continue its drop to 75. At some point the JCB will have to support the yen but this probably won't happen until the 75 level is reached. November Crude: The market is now is on its way to the 110-115 zone. Support is at 90-91.
GLD – December Gold:   I think gold is headed for 2300.
SLV - December Silver: I think silver is headed above 50.00.
Google: Google is headed up to 750.
Apple: AAPL  has reached the 690-700 zone. Next upside target is 718.  Support stands at 645.

1 comment:

hayfield said...

Carl, just what are these markets telling us? They refuse to stay deep in the red. We are in need of a decent correction and somebody keeps buying the dips.