Wednesday, February 27, 2008

Guesstimates on February 27, 8:30 am ET

Spiders - March S&P E-mini Futures: The e-minis have support in the 1360-65 range today. I think the market is about to move into the 1430-50 range. In any case I think 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. Resistance stands at 118-04. 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. Resistance is at 116-28.

Euro-US Dollar: The market nearly reached the 151.00 target this morning. The trend is still up but I think the euro will have a tough time getting much above the 151 level without first breaking at least 500 pips.

Dollar-Yen: The yen has dropped to support at 106.50. I think the market will hold its low at 105 and rally to 110 and higher..

XLE - OIH - USO – April Crude: The market is hovering below resistance at 101. I think this is only a temporary move to new highs and that crude oil will soon head back down to below 85.

GLD - April Gold: I think gold futures are now headed for 1000. Support is at the 910 level in the April contract.

SLV - March Silver: Silver has entered the 1900-2000 resistance range. I think that the market won’t move much above 2000 before it has a big break.

Google: I think the drop from the 747 high is nearly over. There is very strong support in the 400-440 range and my guess is that Google will make an important low in that range and then begin a sustained up move. Meantime resistance is at 490.

5 comments:

Cris said...

Nobody is commenting anything when the markets are up, just when everything starts goind south people show up here too.

Anonymous said...

you're right, cris. as for me, I'm german trading ES and read this blog & some others coz I'm interested what you americans think about your markets.

Anonymous said...

Did you buy ES, Carl?
Thanks!

Anonymous said...

goog has its 21 week cycle low due the week of march 14th , each and everytime this stock has hit its 21 week cycle low it has been up for a minimum of 4 to 6 weeks .
the dow has many fibonacci relationships on march 6th by calendar days and several using trading days point to march 4th 11th . i would prefer this to be a bottom of sorts .
my bias is bullish .
the reason i think no body comments on up days is because the masses are bearish .
joe

Anonymous said...

carl,

after S&P makes it upto your potential target of 1430-1450..do you expect it to retest the lows around 1290-1300 to make a double bottom before s&p goes up further? thanks