Spiders - March S&P Futures: I now think the Spiders are about to move decisively above the 145.00 level to the next resistance which stands near 146.00. The futures should rally to 1465-67 before stalling once more.
QQQQ: The Q’s should rally up to 47-48.
TLT - March Bonds: TLT should find support near 86.50. I expect the market to start a trading range in this vicinity which should be followed a rally to 94-95. The bonds should stall at resistance in the 111-00 to 111-04 zone and then drop to 108-28. I think a basing process has begun that will be followed by a move above the 115 level.
March 10 Year Notes: The notes will stall at 107-08 resistance and then drop to 105-24. I think the market has begun a basing process. After it is complete I expect a move to above the 110 level.
Euro-US Dollar: The euro rally should hold resistance at 130.50 and then begin a drop to support near 126.90.
Dollar-Yen: The yen should hold support near 119.80 and then rally to 123.20. I expect to see the yen trade at 130 in 2007.
OIH - USO - March Crude: Upside target for OIH at 140 has nearly been and the next swing should carry the market to 131. USO has stopped a tad shy of the 50 level and now should drop to 45. Crude has reached 60.00 and is about to drop to 54.00.
GLD - April Gold: GLD is headed for the 67-69 range before the bear market resumes. Switching to the April contract in gold. I expect April gold to rally to 675-690 and then resume its bear market.
March Silver: I think silver will move higher to 1430. From there the bear market should resume.
Google: A move up to 564 is underway. I expect the market to halt its reaction in the 465-68 range and then resume its up move.
1 comment:
Carl,
Are you still expecting a reaction at 45 for the Q's before a rally to 47-48?
Thanks
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