Wednesday, December 05, 2012

Guesstimates on December 5, 2012



December S&P E-mini Futures: Today's day session range estimate is 1406-1419. A move to 1468 and higher is underway.
QQQ:  Upside target is 70 then 74.
TNX (ten year note yield): Bond yields are going much higher as the market begins to anticipate stronger economic growth. The first upside yield target for the 10 year is 2.50%.
Euro-US Dollar: The ECB and the Fed are following polices which will move the Euro to 1.40 or higher.  Next upside target is 1.35.
Dollar-Yen: The move in the dollar-yen above 81.00 is an upside breakout from a trading range which has developed during the past three months. I think it means that the yen is now headed for 85-86.  
January Crude:  I think this market is headed for 70 and lower.
GLD – February Gold:  The market is headed for 2000 and higher.
SLV - March Silver: I think silver is headed for $40.  
Google: There are several old tops in the 640-670 range which should be strong support for the next move up to 800 and higher.   
Apple:  APPL has moved above 575-80 resistance. New bull market highs above 705 lie ahead. Meantime support is at 545.

1 comment:

Kishore said...

Carl, I don't know whether we are heading towards 1468 or 1320, but we are surely heading south! But, for how long?

The robots can surely make this "market" jump through hoops.

As Albert Einstein once said, "I fear the day that technology will surpass our human interaction. The world will have a generation of idiots."