Spiders - June S&P E-mini Futures: The S&P’s should make a low near 1340 and then rally to 1500. Resistance today is again at 1375.
QQQ: The 48.00 level is support for the Q’s and I think the market will soon begin a rally to 54.00.
TLT - September Bonds: I think the bonds are on the way down to 111. Resistance is at 117-28. I think TLT will drop to 88.
September 10 Year Notes: I think the notes are on the way down to 111.
Euro-US Dollar: Resistance is still at 158.00. I think the market is on its way to 140.
Dollar-Yen: The yen is headed for 112.00. Support is now at 103.00.
XLE - OIH - USO – July Crude: Long term resistance in the 135-37 range makes me think that the market’s next big move will be downward into the 112-115 zone.
GLD - August Gold: I think gold is headed for 750. Resistance is at 910.
SLV - July Silver: I think the trend in silver is downward and will carry the market at least to 1400.
Google: It looks like the low Google made near 538 will hold. Next upside target is 640.
6 comments:
Hope you will not revise your S&P and Crude calls again.Regards.
Hmmm, 1340 low to the tick so far today.
Carl,
does your 1340 call refer to the close or intraday. If intraday, then do you see the market now begin its move higher.
We have broken through the 1340 level, my expectation is at least a retest of the previous lows..1250?? Carl what is you perspective, do you think we will still rally from here?? Kind regards, Janet P.S. Transports telling something here ??
I don't think Carl will need to revise his numbers. 1340 (or 1335) will stick. Today was Wednesday before Options Exp, hence the extra few points. We're going up into options this time. Just my 2 cents. Tech will lead the way.
-Nitin
Carl,
Check this out:
http://online.wsj.com/mdc/public/page/2_3022-mfgppl-moneyflow.html
Looks like a lot of people share your opinion that this is the bottom.
Thanks for your help! I REALLY appreciate it.
-Nitin
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