Spiders - March S&P Futures: I now think the Spiders are about to move to the next resistance which stands near 146.00. Support is at 144.40. The futures should rally to 1465-67 before stalling once more. Support is at 1449.
QQQQ: The Q’s should rally up to 47-48.
TLT - March Bonds: TLT should drop to 86.00. The market has begun a trading range 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 was hit 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. 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.
2 comments:
GOLD is in a "bear market" ????
Duh !
again.. i enjoy mr futia for his courage to forcast the future, the transparency of his tools, the breadth of his vision and the clarity of his writing.he has flat out said that most people should not speculate unless they know they have an edge. my tools often find me trading against mr futia's forcasts. but as a great teacher i once had said'' the proper work of the human intellect is affirmation and if its other work of criticizing ,negating or questioning is not in the service of affirmation then it is a waste of time.''
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