Guesstimates on October 12, 8:50 am ET

BLOGSPOT HAS BEEN DOWN THE LAST COUPLE OF HOURS SO THIS POST HAS BEEN DELAYED.


December S&P Futures: The S&P’s are headed for 1373.  Support today is 1357. I expect to see a 1400 print later this year.  

December Bonds: Resistance above the market is at 111-04. The bonds are now headed down into the 107-108 area.

December 10 Year Notes: The notes are now headed down to 105-16 or so.

Euro-US Dollar:  I think that the market is headed down to 124.50 and eventually much lower than that. Resistance today is at 126.25.

Dollar-Yen: I think the yen will rally a little more, say to 120.50, before a reaction of 150-200 pips starts. I expect to see the yen at 130 next year.

November Crude:  The market should rally quickly above the 59.00 level and if it does it should continue upward into the 64.00-65.00 range.  Failing this I shall change my mind about and imminent rally and instead look for a drop to 53.00.

December Gold: The market has turned definitely lower and is now headed below 550 and later below 500.

December Silver: Silver is now resuming its drop to below the 900 level.

Google:  Support is at 410 and I think GOOG will soon move above its all time high of 475.