December S&P Futures: This morning’s CPI news has sent the market to 1408 so far. Today support will be in the 1398-1400 range. The S&P’s are about to enter the 1410-20 range from which another break of at least 30 points is likely.
December Bonds: The bonds have held the 112-24 support level and now are on the way up to 113-30. The market should reach 115-01 in a few weeks.
December 10 Year Notes: The notes are headed up to 109-16. Support is at 108-04.
Euro-US Dollar: The euro should find support near 127.70. I also think that the market will take out its June 5 high at 129.76 before the advance from 124.83 is complete.
Dollar-Yen: The yen should drop to 116.00 or so and then rally to 121.00. I expect to see the yen at 130 next year.
December Crude: The 58.50 level is still support today and I still think the market will rally to 62.00 or so.
December Gold: Support in gold is at 613. I still think the market will move up to 650 before an extended drop begins.
December Silver: Silver should reach 1350 before and substantial drop begins. Support is at 1255.
Google: GOOG will soon reach its initial 507 target and then move on to its higher 564 target. Support is at 463.
1 comment:
Carl,
The jump to 1408 on the SP was inside a given one minute bar indicating a single source group action, not an overall market consensus of makers.
Doesn't that make it unlikely that it was tied to a general observation of CPI but rather one entity pre-loading or unloading a huge batch?
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