Wednesday, November 26, 2008

Guesstimates on November 26, 2008

Spiders - December S&P  E-mini Futures:  I think a rally to 1000 is underway.  The market should hold the 825 level today but if it doesn’t it will be headed down to 750 or so. .

QQQ: The 25-26 zone is strong support and the Q’s have started a rally to 34.

TLT - December Bonds: The bonds are showing much more strength than is apparent in the cash market. In any case the 130 level is short term resistance, and the market will probably reach the 1998 high at 135 before it turns lower.

December 10 Year Notes: The notes took out their 2008 high at 120 decisively and will probably reach 128 before turning lower.

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 – January Crude: My guess is that the market will stabilize around 40.00 and then rally $20 or so.  

GLD - December Gold: The shorter term trend is gold has turned upward and should continue 850-60. After that I expect the market to begin a drop to 600.

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

Google: Google has reached the 250-60 target zone which should be the end of its drop from 747.

1 comment:

Anonymous said...

Carl, I also have a rally to timing says a big move up Tues-Wed next week