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You Are Here: Home > Articles > Contributors > Guesstimates on December 2, 2008

Guesstimates on December 2, 2008
Dec 02, 2008

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Carl Futia

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Spiders - December S&P  E-mini Futures:  The market will probably drop to 760-70 before resuming its rally to 1000.  Today resistance is in the 845-50 zone.

QQQ: The Q’s should hold support in the 25-26 zone and then resume their rally to 34.


TLT - March Bonds: The market will probably reach the 1998 high at 135 before it turns lower.

March 10 Year Notes: The notes will probably reach 128 before turning lower.

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 will move into the 101-102 range before starting another decline.

XLE - OIH - USO – January Crude: My guess is that the market will stabilize around 40.00 and then rally $20 or so.

GLD - February Gold: Support is at 760 and gold should reach 850-60 before resuming its drop to 600.

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

Google: Google has reached the 250-60 target zone which should be the end of its drop from 747.

by Carl Futia (CarlFutia.com)

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