S&P Futures: Yesterday afternoon I thought that 1235 support had been broken but in overnight trading the market moved back above 1235 and stayed there. Since I am very bullish I have to conclude that yesterday’s low at 1230.70 (December futures) will hold and that a move up to 1268 has started.
December Bonds: The bonds have traded a little below the low of their box at 115-04 but 114-24 is the worst I expect to see on the downside before a move up over 119 begins. The 121-123 zone is my target for the next couple of months.
December 10 Year Notes: The notes have traded a bit below the ½ point of their box at 110-30 but 110-24 is the worst I think we’ll see on the downside before a move up over 113 begins. The 116 level will be reached during the next couple of months.
Eurocurrency: I think the December contract will hold support at 122.75, the ½ point of its current box.. The next big swing will be upward to 126.50.
October Crude: Resistance is still 65.40 and the market is now on its way to 60.50. We should see the 55.50 level in a few weeks.
December Gold: The market is on its way to 468 and eventually much higher than that.
Google: 290 is support; upside target is 343.
No comments:
Post a Comment