March S&P E-mini Futures: I think today’s day session will again show a 25 point range. I estimate the low at 675. I believe this market is stabilizing after a 23% drop in four weeks. It would take a high volume move above the 725 level to indicate that a move to 800 and above is underway.
QQQ: The 26.00 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: 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. I think the market will start stabilizing. The next big move should be a rally to 50.
GLD – April Gold: Gold shows support in the 900-10 zone and should soon resume its move to 1100.
SLV - May Silver: I now think silver is headed for 1750. Support is at 1240.
Google: I think that its drop from 747 is over.
3 comments:
Wow! 675! So basically, you are anticipating that the top of the range is going to be close the opening price...
wow carl futi-oh check out the huge green volume at ES
A couple of charts to ponder. The lower one is a monthly of the Dow and it sits right on a trendline from back to 1987. The other a daily and the lower trendline from the October and November lows is about Dow 6500.. Both are major support
(click here to see charts, and click
on chart to enlarge)
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