Thursday, November 20, 2008

Guesstimates on November 20, 2008

Spiders - December S&P  E-mini Futures:  The e-minis should make it down to 775 before the next rally to 1050 starts. Any strength above 840 will mean that the rally is underway.

QQQ: It looks like the Q’s will drop to 25.50 and then rally to 34.00

TLT - December Bonds: The bonds have rallied to their September highs and will probably trade at 124-16 before a substantial drop begins.

December 10 Year Notes: The 119-120 zone is very strong resistance and I think the market will resume its downtrend from here.

Euro-US Dollar: The euro has resistance at 135 and will probably be trading in the 122-135 range for a while.

Dollar-Yen: The yen will move into the 101-102 range before starting another decline.

XLE - OIH - USO – December Crude: Crude is headed for 50.00 and resistance above the market stands at 62.00.

GLD - December Gold: I think gold will drop to 600. Resistance is at 775.

SLV - December Silver: Resistance above the market stands at 1125.

Google: Google is headed for 250-260.

1 comment:

Anonymous said...


I have to disagree with you about your targets... After the 8.30am numbers, I think the DOW will now hit 5K and SPX down to 670 and NDX down to 1200!

This is the most CORRUPT country in the world... Our politicians have been lying to us for months now and we Americans are doing nothing about it... We should be knocking down the door at Congress and demand ansers!

Its funny how Congress wants to give money to the Auto industry, but if they do so, the want all the CEO and top executive to resind! How funny that is, why doesnt Bush and his buddies and all of Congress resign and step down?