Spiders - September S&P E-mini Futures: I think the S&P is headed for 1175. There should be temporary support near 1210. Resistance above the market is at 1260.
QQQ: Support is at 41.50. 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 now think the market will reach 123 before it heads lower.
December 10 Year Notes: I now 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 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: Google is probably now headed for 375.
9 comments:
And now where's your BIG RALLY TO 1500??? Ha, now you think is going to break 1200. "TOLD YOU SO!"
You have no CLUE of the markets! You went from saying "I think the SPY is headed to 1340 and in the coming months going to 1500"!!!
Now, you are back under 1200...
chaps you lot are cracking me up.. any good trader should realise you cannot predict the future outcome of events..
the best traders watch price and market action and adjust their plans accordingly..
..let be honest, there is no point sticking to a sub-1200 view when we had our BEAR MARK II.. granted we could not clear 1300 but that foretold the story of where we were headed no?!
.. ok glad we got that cleared up..
lol
gb-UK
Put at least your name so that we can check your own spoken words. Cheers ! MC
To the two posters previous to this one: where is your blog? Since you are both much more astute forecasters, where can I find your work online? Possibly being so right and making so much money you do not have time to publish your forecasts, just time to chime in anonymously here.
I love your blog. I have also disagreed with you on market direction for a while.
I do agree with your recent call down and 1175 seems like a pretty good prediction to me, but if things drag on I could see a lower number like 1150. That might be an good entry point for a year end rally.
Pleas keep up the good work.
today is an ugly day
the down volume is 340 to 87 on up vol . decliners 23 to 6 advancers
so on the surface it looks bad
yet under all of this i see alot of buying this is not a market in a state of panic it is a market
where those with a bullish bias
are taking atvantage of this gap down and are buying .
even though my cycles are pointing down into sept 16th 19th todays
lows may hold in a print basis
the next bullish cycle should take us back above 1303 into oct 8th
thats my story and im sticking to it . today most likely point 10
on 60 min spx
good luck carl
joe
Well,
A lot of targets - those targets might be more interesting to read if you could put any core construction behind of them why do you believe particular target should be met.
And I guarantee during the next month QQQQ will not rally to 55, instead heading to 37-38 area, but I have a technical reasons to believe so. Oil is heading to 80-85 $ area and eurodollar, yes, dollar rocketing - likely going to hit 1.37 and possible much lower.
On next week (SPX) market likely going to touch 1260 or close, but then we should see big bear plunge and ending this bearmarket at SPX 1100 area by end of the sebtember.
How´s that sound for you dear CarlFutia ?
Regards,
http://just-charts.blogspot.com/
uh....i wonder if you revise your TLT ideas given the new supply coming to market in T-Land given the massive long term bailout needed for FNM FRE.
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