December S&P Futures: The market has nearly reached 1360 but as yet shows no sign of slowing its advance. Support today is at 1350 and I think the S&P’s will rally into the 1362-65 zone before stalling. I expect to see a 1400 print later this year.
December Bonds: The bonds are likely to rally to 114-04. I think that a more substantial drop will develop from the 114-115 range.
December 10 Year Notes: 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: I think that the market is now headed back down to 124.50 and eventually much lower than that.
Dollar-Yen: Support today is at 117.30. The yen is headed for resistance at 119.50. I expect to see the yen at 130 next year.
November Crude: I think the market will now rally to resistance near 65.00. However I also expect to see crude trading in the 50-55 range sometime during the next 6 months.
December Gold: Resistance today is at 680. The market has turned down from a lower top and now is headed below 500.
December Silver: Resistance today is at 1110. The market has turned down from a lower top and is now headed below the 900 level.
Google: Support is at 394 and I think GOOG will soon move above its all time high of 475.
No comments:
Post a Comment