Thursday, December 29, 2011

Guesstimates on December 29, 2011

March S&P E-mini Futures: Today's day session range estimate is 1236-1254. The drop from yesterday's 1264 high should carry the ES down at least to 1236 and more probably to 1212. The longer term trend is upward. A rally from the November 25 low at 1147.50 which matches the size of the October rally would bring the ES to 1370.

QQQ: Now headed for 63.

TNX (ten year note yield): The 10 year yield has started a move to 2.50%.

Euro-US Dollar: Next support is at 1.2820 and a move to 1.2400 is in the cards. . Resistance above the market is at 1.3130 . I think the Euro is "decoupling" from the European and US stock markets because the European Central Bank has made an implicit commitment to provide whatever liquidity is necessary to the EU banking system.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.

February Crude: An extended upswing is underway. It will probably take crude to 114 or so.

GLD – February Gold: I think gold will probably drop to 1510 or so and then begin a move to 2100.

SLV - March Silver: I think silver is headed for 50.00. Support is at 26.00.

Google: Google is now headed for its 2007 top near 750.

Apple: Upside target is now 475.


Win said...

Carl, I think we go up to 1280 or so before we drop any further.

khalid said...

Interesting to note CF has a brand new guesstimate on TNX.

And the fact that there's been no guesstimates forthcoming recently on the Thirty Year bond presumably means he's still thinking about it.

Win said...

Sorry - I am playing for either 1284 or double top around 1265.