Thursday, December 17, 2009

Guesstimates on December 17, 2009

March S&P E-mini Futures: Today's range estimate for the March contract is 1093-1105. I think the e-minis are headed for 1140.

QQQ: Upside target is 47.50.

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: A drop to 140 is underway.

Dollar-Yen: The drop below the 87.00 level is starting to look like a false breakout. A move above 91 will mean that continuation up to 100 is likely.

January Crude: I think that crude is headed down to 50.00. Resistance is still at 75.00.

GLD – February Gold: Gold continues to sag below what I think should be support. Still, I don't yet see a break in the rhythm of the up trend so I still think gold has more to go on the upside. Meantime support is now at 1100.

SLV - March Silver: The 1900 target has been reached. Still no sign of a top so continuation upward to 2100 is likely. Support is at 1675.

Google: Support is now at 565. This step upward will carry to 610.


curt said...

USD on fire...could we finally be waking up?

Win said...

Waking up to what? Massive borrowing at zero interest rates? USD is in a counter trend rally, maybe because some European countries are in even worse shape than us. The LT downtrend in the USD remains intact.

pimaCanyon said...

Carl, here is a contrarian post I thought you'd appreciate:

pimaCanyon said...

And a little more detail on my prior post (it wasn't a joke!):