December S&P Futures: The market bounced off of resistance in the 1385-86 zone late yesterday but recovered early this morning. I now expect it to move a little higher to 1389 or so but I do not expect it to spend more than an hour or two above yesterday’s high at 1387.25. The next significant swing should be downward to support near 1369. After that a move into the 1410-20 range should develop.
December Bonds: The trend has turned upward in the bonds and that the market is headed for the 115 level. Resistance is at 112-30 while support today is at 112-00.
December 10 Year Notes: The trend has turned upward and the notes are now headed for 110-16. Resistance above the market is at 108-12. Support today is at 107-28.
Euro-US Dollar: The euro is headed back up into the 129-130 zone. Support today is still at 126.60 while the next upside target is 128.50.
Dollar-Yen: The yen should find support at 116.10. The next significant swing should be upward to 121.00. I expect to see the yen at 130 next year.
December Crude: Crude held support at 57.20 yesterday and I think the market will now rally to 62.00 or so.
December Gold: Gold should encounter resistance at 618 but there is an outside chance that the rally will continue to 625. However, in either case the next big move should be downward below 545.
December Silver: Silver has reached the 1250 target and the next big move should be downward to below 900.
Google: GOOG will soon reach its initial 507 target and then move on to its higher 564 target. Support is at 466.
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