Tuesday, December 18, 2012

Guesstimates on December18, 2012

March S&P E-mini Futures: Today's day session range estimate in the March contract is 1427-1440. A move to 1468 and higher is underway.
QQQ:  Upside target is 70 then 74.
TNX (ten year note yield): Bond yields are going much higher as the market begins to anticipate stronger economic growth. The first upside yield target for the 10 year is 2.50%.
Euro-US Dollar: The ECB and the Fed are following polices which will move the Euro to 1.40 or higher.  Next upside target is 1.35. Support is at 1.2670.
Dollar-Yen: The move in the dollar-yen above 81.00 is an upside breakout from a trading range which has developed during the past three months. I think it means that the dollar-yen is now headed for 85-86. 
January Crude:  I think this market is headed for 70 and lower.
GLD – February Gold:  The market is headed for 2000 and higher.
SLV - March Silver: I think silver is headed for $40.  
Google: There are several old tops in the 640-670 range which should be strong support for the next move up to 800 and higher.   
Apple:  Contrary to my expectation AAPL yesterday broke a little below its 505 reaction low. I still think the market won't even spend a full session below that level but if  it does support is at 480.


Anonymous said...

Cliff Deal? It is interesting to see the Flee Market type haggling. However, the result was already known. S O S! Same Old .... Take more debt. Kick the can!

Carl, what is your prognosis for the patient's addiction?

Anonymous said...

Silver and Gold have really diverged from SPY. No mention of that here.