Friday, June 15, 2007

S&P's, Spiders, and QQQQ's




Here are hourly charts of the September S&P e-mini futures, the Spiders, and the QQQQ's. I last commented on these markets here.
I was confident that these markets had another down leg ahead before a rally to new bull market highs could begin. But this morning all three rallied past resistance. This forces me back to the bull side. I now think the futures will reach the 1570 level, the Spiders 155.50 and the Q's 48.50 before another break of as much as 20 points develops.
At the moment I am expecting a significant top in July. I think that the low we saw on June 7-8 was probably point 22 of the Domed House and that point 23 will develop in a about a month.
at

3 comments:

  1. Anonymous6/15/2007 04:25:00 PM

    Carl
    Did you not mean the low on June 7-8 was position 22-not September.
    Rob

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  2. Anonymous6/15/2007 08:34:00 PM

    I remember time ago, you published a small domed house too, it seems 8 june = point 20 of this last, it could be?
    Anyway assuming 8 june was point 22 (or maybe point 22 either) of the big one, did a shorter than expected target imply different expectations for point 23?
    Pg

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  3. Anonymous6/17/2007 12:34:00 PM

    AND IN THE END
    EVERYONE IS CONFIDANT THE BULL MKT
    WILL CONTINUE
    EXPECT TO BE CONFUSED NEXT WEEK .
    WERE CLOSER TO THE TOP NOW .

    ReplyDelete