Wednesday, December 19, 2007

Guesstimates on December 19, 8:30 am ET

Spiders - December S&P E-mini Futures: The e-minis rallied from the 1445 level and should continue upward to1480 or so. From there I think we shall see the start of another leg downward. I still think the market is headed below the November 26 low at 1418 in the March e-minis.

QQQQ: The Q’s are headed for 47.00.

TLT - March Bonds: Resistance above the market is at 116-12. I think that a drop of 7-10 points is underway. TLT is headed for 87.

March 10 Year Notes: Resistance above the market is at 113-16. I think the notes have started a drop of about 5 points.

Euro-US Dollar: I think the euro is establishing a long-lasting top. I think this market is headed for 139.00 before a substantial rally can begin.

Dollar-Yen: I think the yen is headed upward in a multi-month move. Initial upside target is 117.00. Support is at 109.50.

XLE - OIH - USO – February Crude: The market is headed for 79.50. Resistance now stands at 96.50. USO should drop to 56, OIH to 155 and XLE to 60 within the next few weeks.

GLD - February Gold: I still think gold futures still have a shot at the 873 level but a drop below support at 780 will mean that an extended decline has started.

SLV - March Silver: I think is now is likely that the 1644 high in March silver will hold and that an extended decline has begun. Support is at 1350.

Google: GOOG has support at 640.


Anonymous said...

Hi Carl,

Could the following time relationship say anything about the significance of yesterday's low? March, '07 low to July high = 86 trading days. August, '07 low to 12/18/07 low = 86 days

Anonymous said...

mercury sidereal cycle, 88 days

Anonymous said...

Closer we get to this Bradley date, it appears it will have a bullish conclusion.

Rally off November 23 lows ideally should be a 3 leg abc into this bullish Bradley date. So far, only 2 waves look complete and there is a missing c-wave rally.

Today still looks like a buy with a trailing stop. Not impossible for a 600 point Dow rally into Friday.

Santa Clause rally may be imminent.

BH_Trade said...


If you truly believe ES ultimately works back below 1400 why would you not sell short a rally near 1480?