Spiders - September S&P E-mini Futures: The e-minis are headed for the 1250 level. I am short 1 unit (100%) from 1284.75. From the 1250 level a rally to 1340 should begin. I still think we are in the early stage of a move to 1500.
QQQ: Support is at 44.00. I think the Q’s will soon take a step up to 51.00. During the next few months the market should rally to 55 or higher.
TLT - December Bonds: I think the market will hold below resistance near 118-16 and head much lower.
December 10 Year Notes: The market has traded above resistance at 116-8 but there is secondary resistance at 116-20 and I think the next big move will be downward.
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 150.00.
Dollar-Yen: The market should reach the 112.00 target soon. Support is now 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 the next downside target is 1100.
Google: The 460-80 range is good support and I think this market is in the early stages of a move which will carry it over 750.
2 comments:
With 30 year treasury dropping everyday, why would you want to short this market carl? Ever heard of the fed model? There are bears growling everywhere! Emergency fed ease could wipe you out!
Carl,
Would it be normal to see bonds likely to go to your next "box level" which I believe would be around 119-28 if the ES goes down to the 1250 level or below?
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