Spiders - December S&P E-mini Futures: Friday’s late break makes me think the market will head lower before resuming its rally to the 1080 level. I am expecting to see a 890 print over the next couple of days. I still think there is a good chance that the October 10 low at 837 will hold for quite a while, but even if it doesn’t the 810 level probably will.
QQQ: Support remains at 30.50. The next upswing should carry to 38.00.
TLT - December Bonds: I think a big drop is underway in the bonds. It should carry the market back to 111 or lower.
December 10 Year Notes: The notes are now headed for the 110-111 zone.
Euro-US Dollar: The Euro should rally back to 139 or so.
Dollar-Yen: My 99.00 target has been reached. Short term resistance is now at 104.00.
XLE - OIH - USO – December Crude: I think the market will rally to 81.00 and possibly to 88.00 before the downtrend resumes.
GLD - December Gold: I think gold will soon drop to 600.
SLV - December Silver: The market has nearly reached the 900 downside target. Resistance is at 1180.
Google: Google should rally to 425.
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