March S&P E-mini Futures: I am expecting the range of today’s 24 hour trading session to be about the same as Friday’s 26 points. That would put today’s low around 708 or so. The rally from the day’s low should carry the market up 20-25 points. Any more strength than that would be a sign that the trend is about to turn upward. I still think this market is about to begin the biggest rally seen in the last 9 months.
QQQ: The 26.70 level is now support and from there I think the Q’s will start 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: 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. Support is at 940.
SLV - May 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:
Do you look at trend lines? The Yearly, Monthly, Daily, Hourly trend is down, down, down, down.
What do you see, except the oversold, never happens, once in a liftetime, conditions that makes you think any upside is in store?
Look at the "Bigger Picture" post a ways down the page.
wow... 408 i guess is what the futures were saying at one point this morning... we are showing a bit of recovery but the day is early... I hope we see bullish signs you are looking for Carl. Good look all!
Carl....enjoy your blog. You're a headline this morning:
capital currents
Fang dog you watch but you do not see obviously:)
look at the trend lines here(one and three year charts):
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1399335
that makes me think the next big move is UP.
Now in a week i do not know.
And why do you think there is only one direction???
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