March S&P Futures: I expect Friday’s low at 1416.25 to hold. The next swing upward should take the S&P’s into the 1437-39 zone.
March Bonds: The bonds should hold support near 113-04. The next development should be a rally to 116-00. After that rally a break of 5 points or so will become likely.
March 10 Year Notes: The notes should rally to 110-16. Support stands at 108-14.
Euro-US Dollar: I still think that a move to 116 and lower has begun. Resistance above the market is now at 132.50.
Dollar-Yen: I think a move to 121 and ultimately to 130 has begun.
January Crude: Crude has a good chance of extending its rally to 65.00. Support is still at 61.50.
February Gold: Gold should now rally to 662. Any weakness below 620 would cancel this prognosis and mean that an extended drop has begun.
March Silver: I think silver now is headed for 1450-1460. After that I shall be expecting a drop below 940.
Google: Last January’s top at 475 is now support and I expect Google to resume its rally to 564.
2 comments:
I read your blog religiously every day. There is a typo 1316.25 It should be 1416.25 I think
Ron
March S&P Futures: I expect Friday’s low at 1316.25 to hold. The next swing upward should take the S&P’s into the 1437-39 zone.
agree we may see a seasonal rally here based on 60 min SPX chart which has a rounding top into Dec 5-6
rounding tops are statistically a very bullish stock continuation pattern....
http://www.coveredcallswins.com/chartpatterns/BestBullish&BearishPatterns.html#rounding-tops
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