Wednesday, May 28, 2008

Guesstimates on May 28, 8:00 am ET

Spiders - June S&P E-mini Futures: The market has entered the 1350-75 zone. I think the S&P’s will reach 1360 or so before beginning a leg up to 1500. Resistance today is 1400.

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 still 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 on its way into the 112-115 zone. Resistance above the market is at 134.

GLD - August Gold: August gold has support at 880. I still think a move to 1000 or higher is underway but a close underneath this support will change my mind.

SLV - July Silver: I think the trend in silver is upward but a close below 1680 will change my mind.

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


Anonymous said...


I want to take a moment to thank you for the time you put into this blog. It does help less-experienced traders like me. I had shorted WTIC, mostly because of my own analysis, but it certainly helped that you were expecting a break around 136.

It is helpful to having my research receive some confirmation from your work.

Anonymous said...

Yes, I wish to thank you also. I've read your analysis for a while now and very much appreciate it. Kind regards, Janet