Monday, March 24, 2008

Guesstimates on March 24, 8:00 am ET

Spiders - June S&P E-mini Futures: The market should rally into the 1430-50 range over the next couple of months. Over the next few days I expect to see prints in the 1365-70 range. Support for the moment is at 1295.

QQQ: The Q’s have support at 41.70. A rally to 47.50 should begin soon.

TLT - June Bonds: Resistance is still at 120-20 and from there I think the bonds will head down to 112. I think TLT will drop to 88.

June 10 Year Notes: Resistance is at 120-00. I think the notes will soon begin a move to 112.

Euro-US Dollar: The euro closed below 155.00 Thursday so I think a reaction has started that will carry at least to 150.00 or so and probably lower than that.

Dollar-Yen: The yen will probably make it down to 93.50 before a good rally begins. Meantime resistance stands at 101.20.

XLE - OIH - USO – May Crude: I think a break of at least $20 has begun.

GLD - April Gold: The market should now be headed for the 750-80 range.

SLV - May Silver: It looks like the silver is headed for 15.50 or so.

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

1 comment:

Anonymous said...

You are getting to bullish again. I'm selling and getting short tomorrow.