Friday, February 16, 2007

Guesstimates on February 16, 8:50 am ET

Spiders - March S&P Futures: The Spiders are headed for 146.80 and the S&P’s for 1470. Support today in the Spiders is at 144.70 and is at 1450 in the S&P’s.

QQQQ: I expect the Q’s to rally first to 45.60 and then into the 47-48 range.

TLT - March Bonds: TLT should drop to 86.00. The market has begun a trading range which should be followed a rally to 94-95. The bonds should drop to 108-28 while resistance today is at 111-22. I think a basing process has begun that will be followed by a move above the 115 level.

March 10 Year Notes: The notes will drop to 105-24 while resistance today is at 107-23. I think the market has begun a basing process. After it is complete I expect a move to above the 110 level.

Euro-US Dollar: The euro is stalling at 131.50 resistance but I think the market will rally a little more to 132.30 before resuming its decline.

Dollar-Yen: The yen should rally to 123.20. Support at 119.80 was broken yesterday but it looks like the market will end its reaction near 118.80/ I expect to see the yen trade at 130 in 2007.

OIH - USO - March Crude
: Upside target for OIH at 140 was hit and this swing should carry the market to 131. USO hit the 50 level and now should drop to 46-47. Crude has reached 60.00 and is about to drop to 54.00.

GLD - April Gold: Resistance in GLD is the 67-69 range. Resistance in gold is 675-690. From those ranges I expect both markets to resume bear market declines.

March Silver
: I think silver will move a little higher to 1430. From there the bear market should resume.

Google: Google has dropped nearly to its last low at 454 but I think this reaction is over and that the next big move will be upward to 564.


Anonymous said...

Is your domed house projection now at point 21 and do we see 22 in 2 weeks?

Anonymous said...

silence is golden

Anonymous said...

I agree with your 1,3230 target for Euro-US Dollar, but I do not understand where you find the 1,2690 support level.
I'll thank you if you'll explain to me.

Best regards,
Giorgio "Obi Wan".