December S&P E-mini Futures: Today's range estimate is 1181-94. I believe the ES is about to start a breakout move that will carry it above the April top at 1216. I still think we will see 1300 by early April, 2011.
QQQQ: Support is at 49.00. Next upside target is 54.00.
TYX (thirty year bond yield): The thirty year yield has dropped well below long term support at 3.85%. I think the market is at a juncture like that of December 2008 - fast drop in yield that will be followed by a fast rise. The bonds will soon begin a move to 5.40%.
TNX (ten year note yield): The 10 year yield has dropped more than I expected. Still, I think the next big move in yields will be upward. I think that the notes will soon begin a swing up to 4.50%.
Euro-US Dollar: The euro shows no signs of a top. Next target is 143.50.
Dollar-Yen: A drop into the 78.00 - 79.00 range is underway and I think an important low will form in that zone.
December Crude: I still think crude oil is headed for 50.00.
GLD – December Gold: Upside target is 1380 has been reached but the market still has the bit between its teeth. Next upside target is 1480.
SLV - December Silver: Next upside target is 26.50.
Google: The 475 level is support. A move that should take GOOG above 700 is underway.
Apple: Should reach 350 (at least) before the bull market ends. Support is at 265.
1 comment:
VERY nice call on the move to 1175 yesterday - you nailed it.
I think it was the unexpected trade and you were spot on.
Thanks!
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