Friday, April 18, 2008

Guesstimates on April 18, 8:00 am ET

Spiders - June S&P E-mini Futures: I think this market is on its way to 1410 and eventually to 1430-40 in a month or so. My e-mini stop is now at 1453, below the ½ retracement for the rally from 1325. Support now is at 1365.

QQQ: A rally to 47.50 is underway.

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

June 10 Year Notes: I think the notes are on the way down to 112.

Euro-US Dollar: I now looks like the euro is about to step up into the 1.61-1.62 zone, but I also think that the market is at strong, long term resistance and that the next move will be downward to 1.40.

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 closed well past the 112.50 level so I think 119.00 will be the next stop. Support in the mean time is at 106.00

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 1550 or so. The high at 1875 probably marked the end of the rally from 1632.

Google: Google now has support at 460. I think a big move upward is underway. Next short term upside target is 550.


pursuitist said...

Nice trade.

Are you still looking for new highs, and if not, at what point would you play the short side of the market???

Unknown said...

Carl, an update on 3 Peaks and a Dome, per favore! I hope the hip is good