March S&P E-mini Futures: Today's range estimate is 1252-1264. I think a top building process is underway and will be followed by a drop of 50 points. Once it is complete the market will resume its advance to 1300.
QQQQ: Next upside target at 55.00 has been reached. After a brief reaction I think the market will rally to 58.50.
TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.
TNX (ten year note yield): The 10 year yield is headed for 4.50%.
Euro-US Dollar: I think the euro will be supported near 130 and from there will move up to 145.00.
Dollar-Yen: A drop into the 78.00 - 79.00 range is underway and I think an important low will form in that zone.
February Crude: I still think crude oil is headed for 50.00.
GLD – February Gold: A move to new highs is underway. 1495 is the next upside target.
SLV - March Silver: The upside target at 31.00 has been reached but there is still no sign of a top. Next upside target is 36.00.
Google: The 540 level is support. A move that should take GOOG above 700 is underway.
Apple: Should reach 350 (at least) before the bull market ends. Support is at 265.
Carl,
ReplyDeleteDo you still think crude oil is headed for $50? By when?
Thanks,
Shiva
We are only 25 points away from 1300
ReplyDeleteWhy do you think there will be a correction before we hit 1300?
Today action seems very strong and supportive to reach that target without any pullback
Thanks
Very interesting site you have here. I always like to read other trader's blogs, especially pertinent to futures. Anyway, keep up the work, I know it keeps you busy!
ReplyDeleteKeith
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