December S&P Futures: The market is now trading above resistance at 1391 but I still think that the next development will be break down into the 1376-78 zone. Strength above 1394 would force me to abandon this view. In either case I expect to see the S&P’s trade into the 1418-20 zone by the end of the year.
December Bonds: I think that the bonds are headed for 115. Support stands at 113-08.
December 10 Year Notes: The notes should rally to 110-16. Support stands at 108-20.
Euro-US Dollar: There is very strong resistance in the 131.50-132.00 zone. I think the next big move 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 remains support and I think the market will rally into the 62-63 range soon.
December Gold: I still think the market will make it up to 650 before and extended drop begins.
December Silver: Traded as high as 1376 late yesterday but I think the next big move from here will be downward.
Google: Google traded 8 points below what I thought would be 485 support yesterday but closed above that level. Last January’s top at 475 is now support and I expect Google to resume its rally to 564.
No comments:
Post a Comment