Spiders - September S&P E-mini Futures: It still looks like the market can extend its rally from the 1112 low during the next few days. Support today remains in the 1140-50 zone and resistance above the market stands at 1200. I think that the 1112 low either ended this drop or is very near the final low point.
QQQ: The Q’s will probably act worse than the S&P for a while and eventually drop into the 34-35 zone before a solid low is in place.
TLT - December Bonds: I think a big drop is underway in the bonds. It should carry the market back to 111 or lower.
December 10 Year Notes: The notes are now headed for the 110-111 zone.
Euro-US Dollar: The trend in the euro is downward and I think the market is headed for 135. Resistance above the market is now at 149.40.
Dollar-Yen: Resistance is at 108.50 and I think the market is headed for 98.00.
XLE - OIH - USO – November Crude: Next downside target is 75.
GLD - December Gold: Gold still has resistance at 935. I think gold will soon drop to 600.
SLV - December Silver: Resistance is at 1390. Next downside target is 900.
Google: I think Google will make a low near 375 and then begin another multi-year bullish trend.
10 comments:
carl
the q's getting below 37 will
project much lower prices the 34 35 zone is a support yet if you look at nasdaq 100 and correlate it to the q's 37 is a very long term support line ,
G'Morning Carl et all!
ES below 1140 now, are you thinking of buying yet?
Bought GE 22.68 and BAC 37.6 this morning and looking to go long mini index futures.
Good luck everyone trading
Rob
Carl despite me and others insulting you, please don't quit sharing. Thanks.
I did buy some futures here @ 1129.... the bear camp it getting crowded again today with the C word going around.
cheers
Susn
Carl,
Check this out: 22% of all day traders are under the age of 30. Probably the children of hedge fund managers.
Qusetion: Why do they all congregate to your blog?
George
Carl
I think the market will test 1050 on S&P one day this month.
I applaud your perseverance and calmness.
Your blog is a must.
Good luck.
Loyal reader
After looking at todays actions on the street of dreams, my gut tells me that this Bear Market is far from over and that even if the House passes the bill we will not see a 500pt advance... Tomorrow the unemployment will look ugly and the Dow will go below 10K!!!
Carl, I dont see how you see 1600 on the horizon for the S&P, when GE is looking like it will soon become a teenager!!!
Good Luck.... Hope im wrong!
Carl,
I think the END of America is here and that we will suffer for years and years to come... I cannot see the markets recovering from these levels and S&P will go down to 850...
I think ur an IDIOT for calling 1600 on the S&P!!
What time does the House vote on the bailout?
If it weren't so sad your bull would have been funny Carl.The bear will end when the last bottom is higher than the previous one. Transportation down 8.5% and will give a primary bear signal within days.Good luck to all.Regards
Jess
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