Friday, April 11, 2008

Guesstimates on April 11, 8:00 am ET

Spiders - June S&P E-mini Futures: I still think that the e-minis will drop to 1340 and then start a move into the 1430-40 range.

QQQ: A rally to 47.50 is underway.

TLT - June Bonds: Resistance is still at 120-20 and I think the bonds are on the way down to 112. I think TLT will drop to 88.

June 10 Year Notes: Resistance is at 120-00. I think the notes are on the way down to 112.

Euro-US Dollar: I still think the euro is heading for 149.00.

Dollar-Yen: It now looks like the low at 95.76 will hold. Next upside target is104.00. Support is at 99.00. T

XLE - OIH - USO – May Crude: Crude is hovering a little below 112.50 and I think that level will prove to be strong resistance. The next significant development should be a drop into the $85-90 range.

GLD - June Gold: The market should be headed for the 750-80 range. Resistance is still at 940.

SLV - May Silver: It looks like the silver is headed for 15.50 or so. Resistance is at 1840.

Google: Google still has support at 420 and I think a big move upward is underway. Next short term upside target is 515.

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