Thursday, January 11, 2007

Guesstimates on January 11, 8:50 am ET

Spiders - March S&P Futures: I think yesterday’s lows will hold in the S&P futures and in the Spiders. I am expecting an advance in the futures to 1455 and in the Spiders to 144.40.

QQQQ: The market is on its way to 44.70. Meantime support is at 43.50.

March Bonds: Resistance is at 112-08 and the market is headed into the 109-110 zone. Next support is 110-08.

March 10 Year Notes: The notes have resumed their drop into the 105-106 range.

Euro-US Dollar: I think that a move to 116 and lower is underway. Resistance above the market is at 132.10.

Dollar-Yen: The market is headed for temporary resistance at 121.70. Support is at 118.00. I expect to see the yen trade at 130 in 2007.

USO - February Crude: USO broke a little below 46.00 support yesterday but I think a rally of three to four points is imminent. Crude is close to support at 52.50 and a rally of three to four dollars is imminent there too. Much lower prices are likely in the months ahead.

GLD - February Gold: GLD is headed downward to 56.00. Gold has begun a break which will carry it below 600 and eventually below 500.

March Silver: Resistance above the market is at 1265. I think a big drop in silver is underway and will carry the market below 900.

Google: A move up to 564 is underway. Support is at 456.

1 comment:

Anonymous said...

carl _ you have been right on respective to crude & uso. uso & crude have now broken support. what do you see happening now? best regards