Monday, December 11, 2006

Guesstimates on December 11, 8:50 am ET

March S&P Futures: I expect Friday’s low at 1416.25 to hold. The next swing upward should take the S&P’s into the 1437-39 zone.

March Bonds: The bonds should hold support near 113-04. The next development should be a rally to 116-00. After that rally a break of 5 points or so will become likely.

March 10 Year Notes: The notes should rally to 110-16. Support stands at 108-14.

Euro-US Dollar
: I still think that a move to 116 and lower has begun. Resistance above the market is now at 132.50.

Dollar-Yen: I think a move to 121 and ultimately to 130 has begun.

January Crude: Crude has a good chance of extending its rally to 65.00. Support is still at 61.50.

February Gold: Gold should now rally to 662. Any weakness below 620 would cancel this prognosis and mean that an extended drop has begun.

March Silver: I think silver now is headed for 1450-1460. After that I shall be expecting a drop below 940.

Google: Last January’s top at 475 is now support and I expect Google to resume its rally to 564.

2 comments:

Anonymous said...

I read your blog religiously every day. There is a typo 1316.25 It should be 1416.25 I think
Ron

March S&P Futures: I expect Friday’s low at 1316.25 to hold. The next swing upward should take the S&P’s into the 1437-39 zone.

Anonymous said...

agree we may see a seasonal rally here based on 60 min SPX chart which has a rounding top into Dec 5-6

rounding tops are statistically a very bullish stock continuation pattern....

http://www.coveredcallswins.com/chartpatterns/BestBullish&BearishPatterns.html#rounding-tops