Thursday, December 08, 2011

Guesstimates on December 8, 2011

December S&P E-mini Futures: Today's day session range estimate is 1242-1259. The trend is upward and a rally from the November 25 low at 1147.50 which matches the size of the October rally would bring the ES to 1370.

QQQ: Now headed for 63.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield has started a move to 4.50%.

Euro-US Dollar: I suspect that the trend in the Euro is turning upward. A close above 1.3549, last week's high, would convince me of this. In the meantime I am thinking in terms of an upside target of 140.50.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.

January Crude: An extended upswing is underway. It will probably take crude to 114 or so.

GLD – December Gold: I think gold is headed for 2100. Short term support is at 1675.

SLV - December Silver: I think silver is headed for 50.00.

Google: Google is now headed for its 2007 top near 750.

Apple: Upside target is now 475.


chartblog said...

Things looking like a Gartley 222 pattern here....?

Not shorting the uptrend, but we could see an incredible buy ahead if its a real Gartley.

Graph1159 said...

I think we're dropping to 1215 on the S&P to make an inverse head and shoulders.