Spiders - September S&P E-mini Futures: The financial crisis is on the front pages again. I think we shall see an 1175 print before a big rally can begin. Meantime the 1233 level is resistance above the market today.
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 145.00.
Dollar-Yen: The market should reach the 112.00 target. Support is at 106.00.
XLE - OIH - USO – October Crude: The target at 98 has been reached and crude has dropped as low as 94.15 this morning. I think we’ll see the 91.00 before a rally of $10-15 begins.
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.
1 comment:
hey carl
i doubted your 1175 call a few days back yet i can see it now
ill say only one thing , the short term cycle low is due the 16th 19th and we are now into the time window for a low . id really prefer to see 1210 hold on cash spx , otherwise ill begin looking for dow towards 9708 . technically
my work based on the cycles calls for a move above 1313 into early october . so todays open is important . this means based on my work i have to take a medium term bullish bias now despite the obvious ugly looking market .
my hedge is im going to hold my bearish positions in the nasdaq qqqq.
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