Spiders - March S&P E-mini Futures: The e-minis have dropped back to 1337, just a shade below their last low at 1339.75. I don’t have orders in yet but I do expect to be a buyer in the 1330-35 range today. I shall let you know when I take action. I still think that a move to 1430 is underway and that the January 22 low at 1256 will hold.
QQQ: The Q’s are headed for 47.50.
TLT - March Bonds: The bonds are headed down to 112 or so. Today resistance is at 119-12. I think TLT will drop to 88.
March 10 Year Notes: The notes are still holding support but a break below 115-20 will mean that a drop to 112 is underway.
Euro-US Dollar: I still think that the market is headed for 151 or so.
Dollar-Yen: The market has broken out of its 3 week trading range to the upside and is headed for the 110 level. I now think it has established an important low and is headed much higher.
XLE - OIH - USO – March Crude: The market has rallied to a shade above 95.00 resistance. A close above 96.50 will mean that the market is headed for 101 but lacking that close I shall stick with my view that a move below the 85 level will be the next development. USO should drop to 56, OIH to 140 and XLE to 60 over the coming months.
GLD - April Gold: I think gold futures are now headed for 1000. Support is at the 885 level in the April contract. Any weakness below 880 will mean that a drop to at least 750 has begun.
SLV - March Silver: I am raising my silver target to 1900-2000 to keep it in line with the gold target of 1000. Support still stands at 1500.
Google: Google has moved decisively above 525 and is in the early stages of a move which will carry it to 750 and higher.
6 comments:
food for thought
fibonacci series in reverse
march 6th 2008
minus = to march 6th 08
july 17 2007 = 233 ( top )
oct 14 2007 = 144 ( top )
dec 8th 2007 = 89 ( top )
jan 11 2008 = 55 ( top )
feb 1 2008 = 34 ( top )
feb 14 2008 = 21 ( top ? )
feb 22 2008 = 13 ( top ? )
feb 27 2008 = 8 ( top ? )
march 1 2008 = 5 ( top ? )
march 6th 2008 major fibonacci
turn date and the cyclical low is
low by my work ,
nuff said
joe
Joe says "the cyclical low is low by my work."
is low by my work? What low?
If you would use a complete sentence we might all understand what you're saying.
Yes Joe - please comment more clearly for me - I am not at all sure whether you are bearish, bullish, nor what all your notes mean.
im bullish from any low that comes march 6th
"im bullish from any low comes march 6th"
Does this mean "ANY" low before march 6th or ON march 6th?
Excuse my stupidity but I too was taught how to use complete sentences.
it means im looking for a low
on march 6th so i am looking to be a buyer on march 6th provided
it is a low . i say a low because
there is still a chance even if slight that 12069 on the dow holds
yet from the looks of the mkt today my take is the dow will be below 12000 on march 6th . so im being patiant ( hopefully i spelled that correct )
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