Tuesday, November 17, 2009

Guesstimates on November 17, 2009

December S&P E-mini Futures: The day session range estimate is 1098-1112. I expect to see this rally reach the 1126 level within a few days.

QQQ: Next upside target is 45.60.

TYX (thirty year bond yield): I think this market has begun a move to 5.00%.

TNX (ten year note yield): I think that the market has begun a swing up to 4.30%.

Euro-US Dollar: I think a sustained drop to below 120 is about to start.

Dollar-Yen: I think the 87.13 low will hold and that the yen will soon begin a move to 105.00.

December Crude: I think that crude is headed down to 50.00. Resistance is now at 81.00.

GLD – December Gold: There is still no sign of a top in the making. Next upside target is 1165. Meantime support is at 1075.

SLV - December Silver: Continuation up to 1900 is likely.

Google: Support is now at 490. Next step upward will carry to 610.

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