March S&P E-mini Futures: Today's range estimate for the March contract is 1098-1110. The market remains stuck in a trading range between 1080 and 1115. I still think a visit to the low end of this range, possibly as low a s 1075, is likely before an upside breakout can develop.
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: I still think gold has more to go on the upside. Meantime support is 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.
Hi Carl,
ReplyDeleteA close today above 1106.50 will give me a confirmed buy signal. I plan to buy at 1106.80 on a buy stop.
Thanks.
Kindest regards,
P>
It heads up toward 1120's in about 3 days and then a small pullback and then up to 1140's.
ReplyDeletecarl
ReplyDeletetoday looks constructive for a short term perspective. today
was to be a short term cycle low
looks like friday was the actual low minor point 12 ?? friday ?
we should be heading up towards point 15 before another sideways to down move. larger picture could be a point 3 in which case we go into a sideways movement into august before points 7 8 9 10
into mid 2011 .
joe