March S&P E-mini Futures: Today's day session range estimate is 1206-1227. The trend is upward and a rally from the November 25 low at 1147.50 which matches the size of the October rally would bring the ES to 1370.
QQQ: Now headed for 63.
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 has started a move to 4.50%.
Euro-US Dollar: The Euro has dropped below its October 4 low. Next support is at 1.2820. .
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.
January Crude: An extended upswing is underway. It will probably take crude to 114 or so.
GLD – February Gold: I think gold is headed for 2100. Short term support is now at 1610.
SLV - March Silver: I think silver is headed for 50.00.
Google: Google is now headed for its 2007 top near 750.
Apple: Upside target is now 475.
4 comments:
Say Adsense (Joe),
Lindsay’s crash phase count - 10 Day bounce from Nov 28 to Dec 7 is holding good for now as a lower dbl top from the Oct 28 high. Can you begin to hear that faint cry? Lookout below!
i don't think carl is guessing. he's just reluctant to change predictions.
I strongly think that today is the low. I see an inverse head and shoulders pattern with the left shoulder on 11/1, the head on 11/25, and the right shoulder today. Upon breaking out above 1265, this pattern would be confirmed and target 1370 on the S&P 500.
Look out above!
Inverse head/shoulder (if they rally) will be a bull trap. It is on the wrong end of the chart. We are looking long and started layering in today..but 1370 I do not see and once this bounce ends-we will be heading sub 1100 in January. Watch for a poss. bounce to 1260ish..where we will close all long and go heavilyt on the short side. We haven't had a losing trade since July and I don't expect this long scalp to break the streak..but take it for what it is..a bounce.
www.marketspath.com
Post a Comment