Wednesday, March 26, 2008

Guesstimates on March 26, 8:00am ET

Spiders - June S&P E-mini Futures: Support is now at 1310. We shall probably see at 1380 print before another 50-60 point break occurs. The market should rally into the 1430-50 range over the next couple of months.

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 I think the bonds will soon begin a drop 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: 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 - June Gold: The market should now be headed for the 750-80 range. Resistance is at 960.

SLV - May Silver: It looks like the silver is headed for 15.50 or so. Resistance is at 1825.

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


Anonymous said...

Carl, the Euro trades above 1.5700.
Sorry but the turning point you were looking for was 1.5500 which sharply reversed. How can you look for at least 1.50 when the (Your)pre-condition for this forecast does not exist ?


Anonymous said...

Hi Carl,

How would you trade Euro? Would you simply stay out or use very tight stops? A few days ago it was below 1.55 now approaching 1.58...Would options trading be a better idea? Thanks