Thursday, May 15, 2008

Guesstimates on May 15, 8:00 am ET

Spiders - June S&P E-mini Futures: I still think the market is headed into the 1430-40 range and should get there within a few days.

QQQ: Support is at 46.50. I think the Q’s will move into the 50-51 zone.

TLT - June Bonds: I think the bonds are on the way down to 112. Resistance is at 117-28. 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: The weakness late last week means that the market is about to drop to the 140 level. Resistance is at 158.00.

Dollar-Yen: The yen is headed for 112.00. Support is now at 101.15.

XLE - OIH - USO – June Crude: The market has reached the 126 level and I think a drop to 110 or so is imminent.

GLD - June Gold: The market should drop into the 750-80 range. Resistance is now at 915.

SLV - July Silver: It looks like the silver is headed for 1550 or so.

Google: Google now has support at 560. I think a big move upward is underway. Next short term upside target is 640.


Anonymous said...

The head of the AMEX used a BOX
trading method. Is your BOX trading
the same ?
Thanks in advance

Anonymous said...

there is a downside re action coming , the key dates are may 16th to the 23 rd may 20th apears important with in the date range .
the low is due may 29 to june 12th
there is sveral cycle lows in that period , put call ratio is a bit extended and market internals are overbought . long term from mid june through early august
im mixed at the moment .
im turning short term bearish and have begun taking a few light short positions and looking to add
begining may 20th and exiting may 28th where i will once again take a look at the long side
good luck

Anonymous said...

Carl the more you write about Crude the higher it gets.....