Thursday, May 22, 2008

Guesstimates on May 22, 8:00 am ET

Spiders - June S&P E-mini Futures: The market is on the way down into the 1350-75 zone. Resistance above the market today is at 1410. After the reaction has been completed I expect to see a rally which will take the S&P’s to 1500.

QQQ: I think a drop to support at 46.50 is underway.

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: Resistance is at 158.00. I think the market is on its way to 140.

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

XLE - OIH - USO – July Crude: Crude is headed for the 136 level.

GLD - June Gold: June gold is headed back to 1000 and possibly to the 1060 level.

SLV - July Silver: I think the trend in silver has turned upward and that a move to 2000 is underway.

Google: I looks like Google will drop to 515 or so before resuming its uptrend.


Anonymous said...

what do you see techincally that projects the sp 500 to 1500?

Anonymous said...

So that was it for Crude, it will not make to 136 and will break at least down to 80 dollars.Gold will never make to 1000 as well. Thanks.