Friday, July 13, 2007

Guesstimates on July 13, 8:50 am ET

Spiders - September S&P Futures: The market is headed to the upside targets of 1570 for the S&P’s and 155.50 for the Spiders. I expect to see the S&P’s trade well above the 1600 level later this year.

QQQQ: The Q’s are headed upward to the next target is 50.00. Support stands at 47.50.

TLT - September Bonds
: The bonds are headed to 108-20. Support in TLT is at 83.00 and the next rally should carry it to 86.50.

September 10 Year Notes
: The next upside target for the notes is still 106-16. I think the market will rally at least 3 or 4 points from its low at 103-21.

Euro-US Dollar
: Resistance is at 137.80 and any strength above that level will mean that the market will continue up to 140.00

: Next upside target for the yen is 125.50. Support is at 120.70. I expect to see the yen trade at 130 later this year.

XLE - OIH - USO – August Crude
: I think crude is heading up to 76.20. XLE should rally further to 76 and OIH should hit 190. USO should move up to 56.50.

GLD - August Gold: I think GLD has started downward and will drop below 60 on its way to much lower levels. August gold should hold resistance at 665 and drop below 600.

SLV - September Silver: SLV should bounce off of resistance near 133 and then drop below 120. September silver should stall at resistance near 1330 and then head below the 1200 level.

Google: I think Google is headed for 564. Support now is at 525. Next upside target is 552.


Anonymous said...

hi, carl:

are you still sticking with your NAZ price target at 2750 the most as you indicated in tuesday post? or has anything changed? thanks

LowTax said...

Hey Anon (you know who you are),

Where's your double top now, huh?