December S&P Futures: Support today is again at 1378. I expect to see the S&P’s trading at 1390 today or tomorrow. In any case I expect to see a 1415 print later this year.
December Bonds: Resistance is at 110-10 and I think the market will soon be trading at 109-20. Over the next few weeks the bonds should drop into the 107-108 zone.
December 10 Year Notes: The notes should soon be trading at 106-08. I think the market is headed down into the 104-16 to 105.16 zone over the next few weeks.
Euro-US Dollar: The Euro is headed down to 123.50. Resistance today is at 125.90.
Dollar-Yen: The yen should soon reach 121.00. Support today is at 119.00. I expect to see the yen at 130 next year.
December Crude: The market is holding 58.40 support and I expect a rally of 4 to 5 dollars to develop from current levels.
December Gold: Resistance today is at 590. The market should reach 545 in a week or two. Gold has begun a drop to below 500.
December Silver: Resistance today is at 1190. The 1120 level is short term support. A drop to below 900 is underway.
Google: GOOG will soon reach its initial 507 target and then move on to its higher 564 target. Support is at 455.
2 comments:
Carl:
Two questions please.
Do you endorse the use of your blog postings as the basis for investment selections?
You have noted for some time that gold is making a move beneath 500. Do you have an opinion as to the next move, or will that only be revealed by the action in the interim?
Regards, Bill
I don't think amateurs should speculate. I explain why in this post:
http://carlfutia.blogspot.com/2005/04/should-you-speculate.html
This blog is a forecasting blog, not a trading or investment blog.
What I expect for gold is posted in the daily guesstimates and in my gold posts.
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