March S&P E-mini Futures: I think today’s low is likely to be in the 725-30 range and the high near 765. A move to 770 on 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 dropped below 28.50 support yesterday but I think they soon will start a move to 35.00.
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 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.
7 comments:
Yeh, the market might make a good low today and its time to releif som energie upward, 770 is a good idea, but i dont see long lived buttom yet, at least we must reach 600 and below for the final blow up.
About the eurusd first target is 1.2625 and then we will see.
//GC
so Low? it will be very hard to reach 660 (equivalent to 6700 of the dow jones).
//AR
Carl, I would be interested in your opinion of the Dow chart of late March 1938
Carl, I am watching for a close above 760.... I think the CLOSE is becoming more important now.
cheers
Susn
Continue to enjoy your blog and read it daily. Overdue for a bounce in stocks, but believe gold is headed south. Why would money flow into stocks and gold simultaneously?
all the best,
Yossarian
Dear Carl & Friends,
It seems as if market is in a mood to trade on higher side for the next 7-8 trading sessions. Shorts should be avoided.
QQQQ is going to cross 29.05 today.
Regards,
OH, Sorry i mean 700 and not 600, 700 and maybe 660/70 and then it would be a good idea to start then eagerly awaited rally.
Thanks Carl
//GC
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