March S&P E-mini Futures:
Today's
day session range estimate is 1480-91. It seems likely that the ES will rally
to 1546 during the next few weeks.
QQQ: The Q's are now headed for 73.
TNX (ten year note
yield):
Bond yields are going much higher as the market begins to anticipate stronger
economic growth. The first upside yield target for the 10 year is 2.50%.
Euro-US Dollar: The ECB and the Fed
are following polices which will move the Euro to 1.40 or higher. Next upside target is 1.35. Support is at 1.2670.
Dollar-Yen: I think this bull
market has a lot further to go, probably to 96 or so.
February Crude: I think this market is headed for 70 and
lower. Resistance above the market is at 95.
February Gold: A repetition of the size of the last rally would
put gold up to 1715. Any more strength than that will mean that the longer term
trend has turned up.
March Silver: The last rally in
silver was about 350 points. A similar rally now would put the market up to
33.30. Any more strength than that will mean that the longer term trend has
turned upward.
Google: There are several old
tops in the 640-670 range which should be strong support for a move up to 800
and higher.
Apple: During the current rally in the averages AAPL
has underperformed the market and GOOG. Longer term downside target is now 350.
Meantime resistance above the market is at 565.
2 comments:
Hi Carl,
I have found what appears to be a mini three peaks domed house on the Dow and S&P charts. The three peaks were in September-October, then the separating decline into the November low. Point 14 was on December 31. This pattern would fit well with a top around 1546 followed by a steep correction.
Any thoughts on if the market will continue rally for rest of 2013 ?
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