Friday, September 12, 2008

Guesstimates on September 12, 2008

Spiders - September S&P E-mini Futures: The e-minis will probably continue yesterday’s rally and move into the 1270-75 zone.  Support today is 1235. Once the rally from yesterday’s low is complete the market should drop to 1175 or so. 

QQQ: Support is at 41.50 and resistance above the market is at 44.25. 

TLT - December Bonds: I think the market will reach 123 before it heads lower.  

December 10 Year Notes: I think the market will reach 120 before it heads lower. 

Euro-US Dollar: The trend in the euro is downward and I think the market is headed for 135. Resistance above the market is at 142.50. 

Dollar-Yen: The market should reach the 112.00 target. Support is at 106.00. 

XLE - OIH - USO – October Crude: I think that the market is headed for 98. The 112 level is resistance. 

GLD - December Gold: Gold is headed for 700.  Resistance above the market is at 840. 

SLV - December Silver: Resistance is at 1390 and I think we shall see a drop below 1000 before silver can start a big rally. 

Google: Google is probably now headed for 375.  

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