March S&P Futures: The market has begun a move to 1320. It will probably bounce off of 1275, dip into the 1260-65 range, and then continue its way upward. The market should reach the 1350 level in a couple of months.
March Bonds: Resistance is now at 113-08 and the next downside target is at 111-16. I think the market is on its way into the 107-108 zone.
March 10 Year Notes: Resistance is still at 108-18 while the next support level beneath the market is at 107-10. I think notes will reach 104 or so in a few months.
Cash Eurocurrency: The market has recovered above the 119.50 level but will not go higher than 120.60. The next downside target is117.60. A drop to 113 and below is underway.
March Crude: support today is at 62.40 but the market will rally at most a dollar or two from there. Next downside target is at 59.70. Crude is headed for 55.00.
April Gold: I think a drop of $100 has begun. Resistance today is at 565. First minor support on the way down is at 526.
March Silver: I think a drop of $2.00 has started. Resistance today is at 966. Next short term support is at 905.
Google: I don’t think the bull market is over and I expect GOOG to hold support near 355 and then head higher. Once GOOG leaps over resistance at 405 it will be headed for the next upside target at 495.
No comments:
Post a Comment