Monday, February 08, 2010

Guesstimates on February 8, 2010

March S&P E-mini Futures: Today's range estimate is again 1048-1068. I expect Friday's 1041 low to hold and a move to 1200 to begin soon.

QQQ: A rally to 50.00 has begun.

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.

March 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 above the market 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.


Harry said...

I'm very curious about the reasoning behind the expectation for oil to go to $50. Can anybody explain? Thanks

andi said...

carl expecting a low of 1048 today? that is too bearish..i expect 1080ish to hit this week..

dcatlowpj said...

There is considerable confusion in the market today. Some of the reference data I have show little direction. All we have are breakouts to catch...with tight stops.

Tippy said...

Wow, what a boring day out there today. Not a trade in sight. I sure thought we would get a big bounce today, but it doesn't look that great. Feels really, really heavy out there and nobody is eager to jump back into risk.

Feels like we're going to at least try and test that 1041 low this week. Not sure ES is going to move up freely until there is some confidence in that lowpoint. I certainly don't have much confidence in the long side right now.

Anyone got any trade setups working for this afternoon?

AdrianD said...


Don Miller ( actually loves days like today (days after a trend day or strong trend close). this is when he makes most of his money. he is fading rallies as well as weakness.

have a look at his site for trade setups. searc the site for MATD (morning after trend day).