Wednesday, December 02, 2009

Guesstimates on December 2, 2009

December S&P E-mini Futures: Today's day session range estimate is 1102-1116. I think the market is headed for the 1130-40 range.

QQQ: Support is at 42.50. Upside target is 46.50.

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 the market is headed for 160. Meantime support is at 147.50.

Dollar-Yen: I think the dollar-yen is headed down to 80.

January Crude: I think that crude is headed down to 50.00. Resistance is still at 81.00.

GLD – February Gold: I think that continuation upward to 1230 is likely.

SLV - March Silver: The 1900 target has been reached. Still no sign of a top so continuation upward to 2100 is likely.

Google: Support is now at 535. This step upward will carry to 610.


extrader said...

RUT has formed a double top and also a head n shoulder pattern... if we it breaks neckline, i see 520 as the next downside targe!

ES mini has lots of resistance up here at 1112... if we break above this resistance then i would agree with Carl of 1140, because that would mean another leg up, but with the employment numbers coming out this Friday, I would be cautious here, because if we lose 1098, I can see 1050 in the cards!

Happy Trading


Anonymous said...

extrader, I agree with your analysis of RUT. But right now RUT is outpacing S&P in the up move and S&P has broken the key resistance level of 1112.

We seem to already broken into the next higher range of Carl's unless this break is a false break, i.e. a bull trap.

This market is defying all logic except Carl's.

Unknown said...

I was betting against Carl a couple days ago, but I agree with Carl as of today. The trend has changed. It's an uptrend now. Yes, now I'm expecting it to go up to at least 30 points (1140's).

Anonymous said...

As we are back in the lower trading range, are you going to retest the support at 1091/1082 of the lower trading range??

extrader said...


Are u switching to March contracts tomorrow?

extrader said...

Eventhough we broke through 1112 temporarily, i didnt think it can stay up there with numbers coming out on Friday.... I think the risk/reward favors the downside, unless we break above 1112 and have confirmation, then expect the market to have another leg up!

Carl Futia said...


Activity will move to the March '10 contract on December 10.

extrader said...


Ur right, i thought we were in the second week of December, my bad... thanx

MANvsWALLst said...

Todays Guesstimates E-Mini 1102-1116

Come on Carl they were actually 1104.25 and 1115.50

You were .5 out on the top and 2.25 on the bottom.... Can't you get your guesstimates any closer...

Only joking my friend.... Great work... I'm learning a lot from you.... keep it up

Unknown said...

Proctor & Gamble at new 52-week high
Another household products company trading at a new 52-week high (see PG has been trading consistently above its 50-day MA recently. To the extent we can rely on that trend continuing, PG and the industry are buys. The market favors this industry because people have to eat and provide, and the falling $US and Dubai don't apply. CL, HNZ, CAG, and CLX hit new 52-week highs too.