Thursday, November 06, 2008

Guesstimates on November 6, 2008

Spiders - December S&P  E-mini Futures:  The S&P’s have dropped into the 930-940 zone but the market still has not shown any sign of being supported. So I think we shall see a 920 print before the rally into the 105-1100 zone resumes. 

QQQ: The Q’s are headed for 36.00. 

TLT - December Bonds: I think a big drop is underway in the bonds. It should carry the market back to 111 or lower. 

December 10 Year Notes: The notes are now headed for the 110-111 zone. 

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 has rallied as far as 100.55 but I think the market will move into the 101-102 range before starting another decline. The market rejected the 91 low decisively but the odds are that it will break to 89 before a rally well above the 100 level can start. 

XLE - OIH - USO – December Crude: Resistance above the market stands in the 73-75 range. 

GLD - December Gold: I think gold will drop to 600. Resistance is at 790. 

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

Google: Google should rally to 425. Support remains in the 310-30 range. 


catherine said...

I think we might print a bit lower than 920 - possibly 890-900.

Anonymous said...

Hi Carl:

do you think we saw the lows for the day here at ES 923 ?

Rick B.

Anonymous said...


it's dropped to 920! any signs saying its going to turn up? fingers on the button......!!!

Anonymous said...

wave 5 needs to be completed which should bring the spx at 885... then we can begin a 10yr bull market!