Tuesday, March 11, 2008

Guesstimates on March 11, 7:20 am ET

Spiders - March S&P E-mini Futures: Support today is at 1270 and I think the market will soon begin a move into the 1430-50 range. I think that new bull market highs will be seen in the next few months.

QQQ: The Q’s dropped a little below 42.00 yesterday to new lows for the move down but I think a rally to 47.50 is imminent.

TLT - June Bonds: I think the bonds are headed down to 112. I think TLT will drop to 88.

June 10 Year Notes: Resistance is at 118-12. I think the notes will soon begin a move to 112.

Euro-US Dollar: The market is getting close to the 156 target level. A big break should develop from there. Meantime support is at 149.50.

Dollar-Yen: It now looks like the yen is headed for the 99.50 level.

XLE - OIH - USO – April Crude: The moved above 106 but I think a break of at least $20 will be the next development.

GLD - April Gold: I think gold futures are headed for 1000. Support is at the 920 level in the April contract.

SLV - May Silver: It looks like the silver will make it to 2200 and then begin a big break.

Google: Google has reached support at 420 and I think the next big move will be upward.

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