December S&P Futures: The rally from 1186 will probably reach 1211 before any drop to the bottom of the box at 1180 develops. Strength above 1211 will convince me that 1186 was the reaction low. In any case I expect a move well above 1250 to be the next big development.
December Bonds: Closed today but I think a move into the 121-123 range began from Friday’s low at 103-07. Next short term resistance is at 115-04.
December 10 Year Notes: Closed today but I think move up to 116 started From the August 8 low at 109-02. Next short term resistance is at 110-04.
December Eurocurrency: The 121.80 level is resistance and the next step down should carry into the 117.50 to 118.20 range. After the next low a rally to 124 is likely.
November Crude: Prices should reach 60.00 today or tomorrow but the market shouldn’t rally above 63.00 before it resumes its drop to 55.50.
December Gold: Headed for short term resistance at 488. Support is at 466.
Google: 300 is support; upside target is 343.
1 comment:
Hi carl,
i respect your views, but it seems like we are heading on S&P towards 1180 before we could go back to 1211!..and below 1180 would cause a huge sell off...any thoughts on that?
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