Spiders - December S&P E-mini Futures: The market will probably drop into the 800-10 zone before staging a 300 point rally. Strength above the 860 level today will mean that this big rally is already underway.
QQQ: The Q’s are headed for 26.90 before the next rally can start.
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 euro broke below 127 support and now should reach 121.50 before the next rally sets in.
Dollar-Yen: The yen reached its 93 target Friday but will probably continue down to the 89 level before a substantial rally can start.
XLE - OIH - USO – December Crude: Crude has reached the 60.00 – 62.00 target zone. A rally of 10-15 dollars should be the next development.
GLD - December Gold: I think gold will drop to 600.
SLV - December Silver: The market has reached the 900 downside target but will probably continue lower to 810 or so before a big rally begins.
Google: Google should rally to 425. Support remains in the 310-30 range.
5 comments:
Can you STOP calling huge rally... until people like you stop your "HOPE" we won't get to a intermediate bottom!
Welcome back Carl
I sincerely hope all is well in your world.
Turning to trading; theres been allot of market noise outside of your blog too! Perhaps this week the fundamentals & technicals find a near term bottom as we resume the task at hand with your insightful opinion.
Mr. F.
With respect(not trying to be cocky..), I think you are completely in sync again with the market movement.
Dear 9:20 am:
Huge rally, huge rally, huge rally !!!!
Mr.F.
Chartwise, it looks DIA support @82 will hold before the rally kicks in...
And even in the land of sentiment, angry rant gave away to dismissive ridicule, so thinks are falling into the right places of the puzzle...
Wish you a good trading day!
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