Wednesday, December 19, 2012

Guesstimates on December19, 2012

March S&P E-mini Futures: Today's day session range estimate is 1439-1452. 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. Support is at 1.2670.
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 dollar-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. meatime support is at 1655.
SLV - March Silver: I think silver is headed for $40.  Support is at 30.50.
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:  Contrary to my expectation AAPL yesterday broke a little below its 505 reaction low. I still think the market won't even spend a full session below that level but if  it does support is at 480.


Art Goldberg said...

Silver support breached.

Carl Futia said...


pimaCanyon said...


I believe Art is referring to your "SLV" headline for silver. You're calling for support to be at 30.50. I'm guessing that support price is for spot silver or silver futures. SLV trades about 1 dollar below that price. SLV is trading at 30.11 as I type this.

Carl Futia said...

Got it. Thanks. I guess I should modify the titles to make it clear I am talking about futures support/resistance.