March S&P E-mini Futures: The short term trend in the e-minis is downward and will probably carry the e-minis into the 750-75 zone. Resistance above the market today is at 835.
QQQ: Support below the market is at 26.50.
March Bonds: The bonds have dropped into the 126-27 target zone. The next big move in this market should be upward. 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 is imminent, but weakness below 120 would mean that a bear market is underway.
Euro-US Dollar: The euro has traded sideways for several days after dropping as low as 127.50. I think a rally to 137 or so is underway.
Dollar-Yen: I think the 87.50 level will hold and that a rally to 100.00 is underway.
March Crude: The 50.00 level is resistance and I think March crude will drop down into the 30-35 zone.
GLD – April Gold: The 935 level is resistance. At this juncture a drop below 870 will mean that a move down into the 550-600 range is underway.
SLV - March Silver: Silver has rallied past resistance at 1250 so the next stop will be 1325. I think the next big move will carry this market downward to 650.
Google: Resistance stands at 375. I think that its drop from 747 is over.
2 comments:
Thanks for your site Carl. Lots of solid information.. On your point an figure chart you suggest, from the right hand low, we now go pretty much straight up to 1610.. But this morning you suggesting a move to 750/55. That would be a test of the November lows. Robert Prechter in his STU (short term update) feels we will test the November lows too and then have a significant rally. Though I don't believe he is seeing a new high as you do in the S&P. Thanks, -Ross
I've been reading you blog for a little while now and was wondering if you read around any other blogs and if so whose?
Recommend any good sites?
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