Thursday, February 22, 2007

Guesstimates on February 22, 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 145.00 and is at 1452 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: The lows made on January 26 will hold. TLT is now headed up into the 94-95 range. The bonds are headed for 120. Support in TLT is at 87.50 and in the bonds at 110-24.

March 10 Year Notes: I now believe the notes made their low on January 26 and are now headed for 111. Support is at 107-04.

Euro-US Dollar: I now think it is unlikely that the euro rally as far as 132.30 and am pretty sure that the next down leg has started.

Dollar-Yen: Next upside target is 123.60. I expect to see the yen trade at 130 in 2007.

OIH - USO - March Crude
: This swing should carry OIH to 129-130. USO should drop to 45. Crude is about to drop to 54.00.

GLD - April Gold: I think that both GLD and April gold made important tops yesterday. An extended drop will start soon.

March Silver: Silver has reached the 1430 target and its bear market will resume soon.

Google: Google is headed upward to 564.

1 comment:

Anonymous said...

Shouldn't we have passed Point #21 by now?