March S&P E-mini Futures: The midpoint of Fridays range is 765 and we expect that level to serve as support today. A move above 786 with good volume would be very bullish. I think this market is about to turn upward and begin the biggest rally seen in the last 9 months.
QQQ: The Q’s should hold 28.50 support and begin a rally to the 35.00 level.
March Bonds: The bonds have dropped into the 126-27 target zone. The next big move in this market should be upward to 135. Any significant weakness below 125 will mean that a bear market is underway.
March 10 Year Notes: The notes have yet to reach our 120 target. We think a substantial rally to 128 is imminent, but weakness below 120 would mean that a bear market is underway.
Euro-US Dollar: The euro is headed down to 122.50.
Dollar-Yen: I think the 87.50 level will hold and that a rally to 100.00 is underway.
April Crude: The 30-35 zone is long term support. I think the market will start stabilizing. The next big move should be a rally to 50.
GLD – April Gold: Gold is now headed for 1100.
SLV - March Silver: I now think silver is headed for 1750.
Google: Resistance stands at 375. I think that its drop from 747 is over.
5 comments:
Hi Carl - Thanks for you insight. Please tell me why you conclude that the biggest rally in the last 9 months may be imminent. Thanks -- Jeff
Mr. 8:52 am
You frequently comment on this blog but I usually delete your "insights". You seem unable to give any reasons for your market views. But you do seem to have a grade-school level ability for name calling.
If you a looking for an idiot, I suggest gazing into the nearest mirror.
ALthough I do think Carl has been a bit too optomistic these last few months? I also want to ask anyone here how many other folks you can trade/follow who actually in print will not fudge exits, he takes his loses and publishes them, and moves on.
This market has been extremely difficult but the professionals are taking the small loses and moving righht back to the drawing board. I too was an ankel biter over Carls bullish slant but he shines in the honest category and theres not much of that out there these days..
This could easily go both ways--maybe the market is afraid of the stress tests..maybe this is just another name for nationalisation..whatever it may be..
it could go to 650 just as easily..
Dow 6000--now who would have thunk it.
This is the last shake of this market, before a real rally that last for almost 9 month, Carl is right, with little bit time modefication, i see a bottom at the 10 of march and a conformation of this upward movement will occur between the 10 och april and the 23.
Best wishes
//onehundredandeight
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