Friday, February 09, 2007

Guesstimates on February 9, 8:50 am ET

Spiders - March S&P Futures: I think the Spiders have started a move to the next resistance which stands near 146.00. Support is at 144.40. The futures should rally to 1465-67 before stalling once more. Support is at 1449.

QQQQ: The Q’s should rally up to 47-48.

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. 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. 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 rally should hold resistance at 130.50 and then begin a drop to support near 126.90.

Dollar-Yen: The yen should hold support near 119.80 and then rally to 123.20. I expect to see the yen trade at 130 in 2007.

OIH - USO - March Crude
: Upside target for OIH at 140 was hit and the next swing should carry the market to 131. USO hit the 50 level and now should drop to 45. Crude has reached 60.00 and is about to drop to 54.00.

GLD - April Gold: GLD is headed for the 67-69 range before the bear market resumes. I expect April gold to rally to 675-690 and then resume its bear market.

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

Google: A move up to 564 is underway. I expect the market to halt its reaction in the 465-68 range and then resume its up move.

3 comments:

Anonymous said...

o.k. google down today but i now believe it will not effect markets I am seeing big rally from this point.

Anonymous said...

google should head back to 406
there was many many top top bottom
and bottom top top count into this week. the market is showing signs
of topping now . if next week near
feb 16th is a low then there is a change of new highs . yet im in doubt , im thinking we are witnessing a top of importance and the market will now be down into
july augest . from the july augest
lows if the dow hlds above 10600
then the upside becomes up to 13000
to 14100 on the dow and te spx to new all time highs by march 2008.
for now the case is open yet the bias is now bearish .

Anonymous said...

I think GOOG at least will test 450 area.