December S&P Futures: Support today is again at 1340. I think a 20-30 point reaction will begin from 1360 or so. Much higher prices are likely later this year.
December Bonds: The bonds are likely to rally from 112-00 support to 114-04. I think that a more substantial drop will develop from the 114-115 range.
December 10 Year Notes: The market has reached support around 108-00. The next step up should carry it to 109-00. I think the notes will rally into the 109-110 range before a more substantial drop begins.
Euro-US Dollar: Resistance above the market is at 127.30. I think that the market is headed back down to 124.50 and eventually much lower than that.
Dollar-Yen: The yen is now headed for resistance at 119.50.
November Crude: Resistance is now at 65.00.. I think the market will probably take a peek below 59.00 before an even bigger rally begins. However I also expect to see crude trading in the 50-55 range sometime during the next 6 months.
December Gold: It looks like the market will rally briefly into the 620-25 range before resuming its move below the 500 level.
December Silver: Resistance is at 1195. I think the market will soon resume its drop to below 900.
Google: Support is at 394 and I think GOOG will soon move above its all time high of 475.
1 comment:
Mr. Futia:
Can you comment on SHLD please. Give us an UPDATE on SHLD. when do you think the downward move of 40 points will take place?
Thank you in advance
Pat
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