March S&P E-mini Futures: I estimate that today’s range will be 715-740. Early yesterday a demand shock hit the market. I think this signaled the start of a move to 840.
QQQ: The 26.00 level is still support and I think the Q’s have started a move to 35.00.
June Bonds: I think the long term trend in the bond market is now definitely downward. Next downside target is 117.
June 10 Year Notes: I think a bear market in the notes is underway. Next downside target is 118.
Euro-US Dollar: The euro is headed down to 122.50.
Dollar-Yen: The yen has nearly reached the 100.00 level. There is as yet no indication that the move up from 87.00 is over, so I now estimate that the yen will reach 104.00 before a substantial reaction begins.
April Crude: The 30-35 zone is long term support. The 50.00 level is resistance. I think the market has started to stabilize.
GLD – April Gold: Gold closed below 900 yesterday so I think the market is now headed below 700.
SLV - May Silver: Silver is still holding 1240 support but I think this level will soon be broken. If it is the market will be on its way below 800.
Google: I think that its drop from 747 is over.
4 comments:
Best cover I have seen yet:
http://www.vanityfair.com/images/magazine/2009/04/0904VFcover-cw.jpg
Best regards,
George
MOVE TO 840 IS IMPOSSIBLE--IF I REMEMBER YOU STARTED CALLING THE BIGGEST MOVE OF THE CENTURY FROM 760..AND 750 AS THE ABSOLUTE BOTTOM--IT WILL BE 743
dude the euro is strongly correlated to the DOW--if its going to 122..DOW is going to 5000..how come you are getting it wrong both ways?
Dear 10:15 am
"impossible" is a word used only by talkers and amateurs.
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