Monday, April 09, 2007

S&P's, Spiders, and QQQQ's

Here are hourly charts of the June S&P futures, the Spiders, and the QQQQ's. I last commented on these markets here.

The move up from the March 14 low still has quite a bit further to go in my opinion. I expect to see the futures trade in the 1520-30 zone, the Spiders in the 151-152 zone and the Q's in the 50-51 zone sometime during the next two or three months.

Meantime I see very temporary resistance in the S&P's at 1462, in the Spiders at 145.20, and in the Q's at 45.00. After a brief reaction I think all three markets will then proceed to new highs for the rally as indicated.

1 comment:

Anonymous said...

hi carl and fellow traders, check out the 3:20 minute mark here on this video if market fails to make new highs here

(interesting comments from 3:20 minute mark to 5:20 minute mark)

Any comments?