March S&P Futures: The market is now headed for 1298 with support at 1259.
March Bonds: I think the bonds are on the way to 113-28. I expect the bonds to rally into the 115-116 zone before the bear market resumes.
March 10 Year Notes: The notes should rally to 109-28. I expect this market to move into the 111-112 zone before the bear market resumes.
March Eurocurrency: Short term resistance is 121.50 and reactions should hold the 120.00 level. The market is headed for 123.50.
January Crude: Should bounce off the 62.20 level and then drop to 57.50. I expect crude to trade in a range of $54 to $64 for several months before going much lower.
February Gold: Short term support is at 515 and a bounce upward into the 525-530 range from here would be normal. I think we will see the 498 level soon and that the 544.90 high will hold for at least several weeks.
March Silver: The market is on its way to 830. The high at 934.5 (electronic) will hold for at least several weeks.
Google: I think GOOG is now headed for 440.
1 comment:
carl:
cnbc is talking about a bull trap.what are your thoughts?
also, i was wondering if your can reiterate your thoughts on NASDAQ..i mean it looks like it has been lagging,while s&p is only away 80 points from your bull market target..nasdaq is away as much as 350 points(assuming 2600) is your target with in the next couple of months..do you think nasdaq migh top out around 2350 or so?
thank you.
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