March S&P E-mini Futures: I am expecting a 24 hour range of about 35 points today with a low in the 655-60 zone. At this juncture a high volume rally above the 700 level would turn the short term trend upward.
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. The 50.00 level is resistance. I think the market has started to stablilize.
GLD – April Gold: Gold shows support in the 900-10 zone and is resuming 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.
1 comment:
Hi Carl,
the last 40 minutes of Friday Session, didn't they were a demand schock like you were waiting for?
If i may, i would ask you why is it (the leg from665 to688) not the first move of the new uptrend already in?
Tia
and thanks for the good work too
Ric
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