March S&P E-mini Futures: Today's range estimate is 1095-1110. I think yesterday's afternoon rally means that the drop below the 1090 level was a terminal shakeout and that the market is headed higher. The 1130 level is the short term target and I expect the market to reach 1200 over the next three months.
QQQ: A rally to 50.00 is underway.
TYX (thirty year bond yield): I think this market is headed for 5.00%.
TNX (ten year note yield): I think that the market has begun a swing up to 4.30%.
Euro-US Dollar: This market is now headed for support near 131.00. Resistance above the market is at 141.00. Looking further ahead I think that a drop to 125 is likely over the coming months.
Dollar-Yen: A rally to 100.00 is underway. Support is at 90.00.
April Crude: I think the market is headed for 50.00.
GLD – April Gold: The longer term trend has turned downward. I expect gold to drop to 875 over the next few months. Resistance is at 1120.
SLV - March Silver: I now think silver has started a down move that will carry it to 10.00 over the next few months. Resistance above the market is at 17.00.
Google: The next significant move should take GOOG above 700.
2 comments:
Carl, long-time reader. I appreciate your blog immensely. Thank you for all your work.
Question: what do you think will happen to the market after 1200? Do you expect a multi-month correction? This is a question for my IRA account. I'm not sure whether to reinvest now, or wait until later this year. Thank you.
Yep, agreed. I also see 1130 as next target. -MK
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