Spiders - December S&P E-mini Futures: Resistance today is at 850. Strength above that level will convince me that a move to 1000 is underway. Meantime the odds still favor a drop to 760-70.
QQQ: The Q’s should hold support in the 25-26 zone and then resume their rally to 34.
TLT - March Bonds: The market will probably reach the 1998 high at 135 before it turns lower.
March 10 Year Notes: The notes will probably reach 128 before turning lower.
Euro-US Dollar: The euro has resistance at 135 and will probably be trading in the 122-135 range for a while.
Dollar-Yen: The yen will move into the 101-102 range before starting another decline.
XLE - OIH - USO – January Crude: My guess is that the market will stabilize around 40.00 and then rally $20 or so.
GLD - February Gold: Support is at 760 and gold should reach 850-60 before resuming its drop to 600.
SLV - March Silver: Resistance above the market stands at 1125. Next downside target is 650.
Google: Google has reached the 250-60 target zone which should be the end of its drop from 747.
Carl,
ReplyDeleteYour yen forecast in your Guessimates needs to be updated. It is trading 10 handles from your "move into the 101-102 range before another decline".
The decline has already occurred (yen appreciating)?
DE