December S&P E-mini Futures: Today's day session range estimate is 1087-1103. The market should reach 1120 by the end of the month.
QQQ: Next upside target is 45.00.
TYX (thirty year bond yield): I think this market has begun a move to 5.00%.
TNX (ten year note yield): I think that the market has begun a swing up to 4.30%.
Euro-US Dollar: I think a sustained drop to below 120 is about to start.
Dollar-Yen: I think the 87.13 low will hold and that the yen will soon begin a move to 105.00.
December Crude: I think that crude is headed down to 50.00. Resistance at 76.00 has been broken but not by much.
GLD – December Gold: Almost at 1070 but market will probably keep going until it reaches 1120. Support is at 1000.
SLV - December Silver: Continuation up to 1900 is likely.
Google: Upside target is 550 has been reached. Support is now at 490. Next step upward will carry to 610.
Carl, 2 questions
ReplyDelete1. I can understand your contrarian nature on equities and currencies, but I have a hard time seeing it for oil and gold. Is there such a widespread bullishness on oil/bearishness on gold?
2. When do you decide that you were wrong? I took a short position in crude, independent of you, but seeing your insistence on the upcoming downtrend is one reason I continue to hold it. When do you call it quits?
Thanks