Wednesday, April 04, 2007

Guesstimates on April 4, 8:50 am ET

Spiders - June S&P Futures: The Spiders are headed for their next resistance at 145.20. The futures are headed for 1465. New bull market highs will be seen during the next couple of months.

QQQQ: The market is headed for resistance at 45.00. I am looking for a move up to 50.00 or higher over the next few months.

TLT - June Bonds: I now think TLT will drop to 85 before resuming its bull market. The bonds have decisively broken support and are now headed down to 109 before the bull market resumes.

June 10 Year Notes: The notes broke support and I think the market is headed for 105-16 before the bull market resumes.

Euro-US Dollar: I think that the next 500 pips from here will be downward.

Dollar-Yen: The 115.14 low on March 5 will hold and that the market is now headed for 123. Meantime the 120.20 level is resistance and support is at 117.60. I expect to see the yen trade at 130 later this year.

OIH - USO - May Crude: I still think OIH will reach 151-53 before resuming its longer term drop. USO has rallied to 54 but the next 10 points from here will be downward. May crude has reached resistance at 66.00. I still think the next big move will be downward to 55.00 or so.

GLD - June Gold: I think that both GLD and April gold have begun an extended decline that will carry gold well below 600. Resistance in the futures is still at 675.

May Silver: Silver has resistance at 1365 and an extended drop lies dead ahead.

Google: I think the 437 low in Google will hold and that the move to 564 has started. Support now is at 455.


Anonymous said...

Have you given up your domed house drop? changed your date? Gotten confused? I do not mean theses comments in a bad way, I am just wondering if your perceptions have changed.

Anonymous said...

Given your predictions about Crude, what do you think about the possibility of $4.00 gas this summer? Or is that a separate issue from the price of Crude - sometimes there does seem to be a disconnect.