Spiders - December S&P Futures: Short term support stands at 1522 in the futures and 150.50 in the Spiders. The S&P’s and Spiders are in the middle of a move which will establish new bull market highs by a substantial margin.
QQQQ: The Q’s should reach 52.50, a new bull market high, before a reaction of a couple of points sets in.
TLT - December Bonds: The bonds are headed down to the 106-107 zone. TLT hit 91, a full 10 points above its June low. This is important resistance and a drop to 84 or so has begun but I now expect the June low at 81.20 to hold.
December 10 Year Notes: The notes are headed down to 105.
Euro-US Dollar: The market has reached the 141.00 level and I expect a significant drop from that level.
Dollar-Yen: Support in the yen is at 113.25. Looking ahead several months I expect to see the 130 level during the next 12 months.
XLE - OIH - USO – November Crude: The 81.00 level is strong resistance. The next significant move should be downward to 70 and below. The upside target for USO is 62. In OIH the next big move will be downward. XLE is stalling and the next big move will be downward.
GLD - December Gold: Gold should bounce off of strong resistance in the 750-55 zone and begin an extended decline. This breakout to new bull market highs is one that should be faded.
SLV - December Silver: Silver should bounce off of the 1380 level and start an extended drop.
Google: I think that a rally to 600 or higher is underway.
3 comments:
Carl, If the Euro keeps rising, at what price level would you change your Euro/$ forecast ?
Dear Carl,
You are wrong on the euro already from the 1.30's, You will be right at some point, but maybe you can share why you see a top?
Any way thanks for your comment and your hard work.
It's a great blog, but no one should invest or trade based on the "guesstimates" posted here.
I keep on reading questions addressed to Carl pertaining to his commodity/currency predictions.
"Guesstimates".. That's just what they are!!
EUR/USD and GOLD, and OIL have been flying through the ozone and the guesstimate levels are simply shifted upwards every trading day.
I'm not sure what the thinking is behind the guesstimates but if you try and trade currency/commodity futures based on what's here, then you're crazy.
GOLD will fall by USD 50-150 Dollars in short time-frame AT SOME POINT, "GOD WILLING", but no one knows when. WHEN IT ACTUALLY STARTS DOING THAT IN EARNEST IS THE ONE BILLION DOLLAR QUESTION that Carl obviously cannot answer. Ditto EURO, or YEN, or OIL.
Yet by continually pushing up his levels, he'll get it right at some point surely.
And you'll all applaud him then.
I thoroughly enjoy checking out this blog. I mean no disrespect.
It's just that if you make speculation decisions based on "info" here, I guarantee you will do some damage to your account.
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