Friday, December 03, 2010

Guesstimates on December 3, 2010

December S&P E-mini Futures: Today's range estimate is 1209-1223. I think the short term trend is upward. Next upside target is 1250. The market is on its way to 1300 over the next few months.

QQQQ: Next upside target is 55.00.

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: I think the euro will be supported near 130 and from there will move up to 145.00.

Dollar-Yen: A drop into the 78.00 - 79.00 range is underway and I think an important low will form in that zone.

January Crude: I still think crude oil is headed for 50.00.

GLD – December Gold: The 1310-20 zone should be strong support for the market. A move to new highs is underway.

SLV - December Silver: Support is at 23.50 and a move to new highs is underway.

Google: The 540 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.


cannonau said...

Hi Carl, I wanted to ask if the levels are worth by market opening at 8.30 and are valid for night time movements?

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