Swing Trading Strategies & Stock Picks Since 2003

Spiders - December S&P  E-mini Futures:  Yesterday’s late weakness dropped the S&P’s to 827, just a shade above the 825 low reached early in the day. Buying in Europe this morning has produced another big rally to 878, so we are back to where we started yesterday morning. The latest rally does look like a second rejection of the 830 level so I am bullishly inclined this morning. No matter what the market does over the next few days I think that a 300 point rally is imminent. 

QQQ: The Q’s are headed for 26.90 before the next rally can start.

TLT - December Bonds: I think a big drop is underway in the bonds. It should carry the market back to 111 or lower. 

December 10 Year Notes: The notes are now headed for the 110-111 zone. 

Euro-US Dollar: The euro should reach 121.50 before the next rally sets in. 

Dollar-Yen: The yen reached its 93 target Friday but will probably continue down to the 89 level before a substantial rally can start. Resistance above the market is 99.00 

XLE - OIH - USO – December Crude: Crude has reached the 60.00 – 62.00 target zone.  A rally of 10-15 dollars should be the next development.    

GLD - December Gold: I think gold will drop to 600. Resistance is at 810. 

SLV - December Silver: The market has reached the 900 downside target but will probably continue lower to 810 or so before a big rally begins.     

Google: Google should rally to 425. Support remains in the 310-30 range.