March S&P E-mini Futures: Today's range estimate for the March contract is 1093-1105. I think the e-minis are headed for 1140.
QQQ: Upside target is 47.50.
TYX (thirty year bond yield): I think this market has begun a move to 5.00%.
TNX (ten year note yield): I think that the market has begun a swing up to 4.30%.
Euro-US Dollar: A drop to 140 is underway.
Dollar-Yen: The drop below the 87.00 level is starting to look like a false breakout. A move above 91 will mean that continuation up to 100 is likely.
January Crude: I think that crude is headed down to 50.00. Resistance is still at 75.00.
GLD – February Gold: Gold continues to sag below what I think should be support. Still, I don't yet see a break in the rhythm of the up trend so I still think gold has more to go on the upside. Meantime support is now at 1100.
SLV - March Silver: The 1900 target has been reached. Still no sign of a top so continuation upward to 2100 is likely. Support is at 1675.
Google: Support is now at 565. This step upward will carry to 610.
4 comments:
USD on fire...could we finally be waking up?
Waking up to what? Massive borrowing at zero interest rates? USD is in a counter trend rally, maybe because some European countries are in even worse shape than us. The LT downtrend in the USD remains intact.
Carl, here is a contrarian post I thought you'd appreciate:
http://allallan.blogspot.com/2009/12/major-sell-signal.html
And a little more detail on my prior post (it wasn't a joke!):
http://allallan.blogspot.com/2009/12/forecast-preempted.html
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