March S&P E-mini Futures: Today's range estimate for the March contract is again 1098-1012. 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: The market has broken decisively below support at 147.50. I think this means that 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: I still think gold has more to go on the upside. Meantime support is in the 1120-1130 zone..
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 535. This step upward will carry to 610.
1 comment:
Carl, the market can not go to 1140 without first going through 1110, 1120 and 1130.
The market has been spending too much fuel, higher cummulative TICK, for too little upward movement. It is ready for a sell-off.
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