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.
1 comment:
Carl,
Your 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
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