March S&P E-mini Futures: Today's range estimate is 1315-1331. I think the market is about to drop into the 1225-50 zone over the next few weeks. But once this reaction is complete I expect to see new highs for the bull market.
QQQ: A drop to 53.00 or so has begun, but once it is complete I expect to see new bull market highs.
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 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.
April Crude: The 102 price target was hit last week. The market is still resilient. A move as high as 104 would mean that continuation up to 112 is likely.
GLD – April Gold: A move to new highs is underway. 1495 is the next upside target. Support is at 1315.
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. Support is at 25.50.
Google: The 540 level is support. A move that should take GOOG above 700 is underway.
Apple: Has reached the 350 target. Next upside target is 375. Support is at 310.
That type of correction would be very consistent with the Feb-Mar 2007 correction related to China.
ReplyDeleteMust admit I thought that analog died on Friday as the bounce, while expected, was much stronger than what occurred in 2007.
As always, your perspective is greatly appreciated.
It would be great to get your reasoning for such a correction, as it seems like quite a contrarian call.
Thanks,
-D
Carl I have followed you for about two years now, thanks for the great comments. You have been much more accurate than anyone else out there, all the elliott wavers are always calling for the top. Thanks again. sneads11
ReplyDeleteCarl, your way to communicate the things is outstanding. This is a strange way of delivering the news but more attractive than any other way. it seems you are doing much more than just managing your blog. Your blog looks like a help center for people. Thank you..
ReplyDeleteExcellent...
ReplyDelete