December S&P Futures: The market broke early this morning on dollar weakness, but I think it will hold support which still stands at 1398. The next development will be a move up into the 1418-20 resistance zone.
December Bonds: I think that the bonds are headed for 115.
December 10 Year Notes: The notes should rally to 110-16.
Euro-US Dollar: The euro has taken out its June high at 129.76, rising as high as131.09 this morning on breakout buying and short covering. Since the 131-132 zone is my upside target I think that the next big move from this area will be downward to 116 and below.
Dollar-Yen: I think the yen will find support near 115.00 and then resume its move to 121 and ultimately to 130.
January Crude: The 58.00 level is still support today and I think the market will rally into the 62-63 range soon.
December Gold: Gold traded as high as 639 this morning and I still think the market will make it up to 650 before and extended drop begins.
December Silver: Silver reached the 1350 target this morning. I think we’ll see a 1360 print while gold rallies to 650 but in any case the next big move in silver will be downward.
Google: I think the rally will continue up to its 564 target. Support is at 485.
3 comments:
Its very interesting to follow your guesstimates and it looks like you have a high probability with your forecasts.
It sounds that you are rely very strongly on the technical analysis, but now i cant believe that you still think that the market will rally to the 1410-1420 range.
Because of the weakness of the Dollar also that the VIX (Volatility Index)
came down to the lowest since a long time.
There are many signs that the chances to the downside are much better than to the upside.
But when i look at your forecasts you are more times right than me so i hope you can clear my doubts and bring me back on the track and show me the wrong thoughts of my approach to predict the market.
Thx
Pierrus
Amazing, since euro just broke June high, it seems it has more up space.
Im with you Pierius..there were too many time hits & price hits amongst the majors last week too be ignored imo...the minor panic that was seen in the European Indexs at the Europe open due to the US $ freefall was a possible confirmation imo.
Its possible the US indexs may March too a slightly different drummer here ...so playing non US indexs seems safer atm (if u are a player anyway)...we will c
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