Friday, May 30, 2008

Guesstimates on May 30, 8:00 am ET

Spiders - June S&P E-mini Futures: The market moved a little past 1400 resistance yesterday but not enough to shake my belief that it is headed for 1360 or even a little lower before it starts a leg up 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 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: The market’s weakness yesterday changed my mind about the direction of the short term trend. I now think gold is headed for 750.

SLV - July Silver: I now think the trend in silver is downward and will carry the market at least to 1400.

Google: I still think Google will drop to 515 or so before resuming its uptrend.


Anonymous said...


Great BLOG! Do you currently work with any partners?


Anonymous said...

Your predictions seam to be spot on with the S&P, but with Gold&Silver was wrong. As you predicted a stronger doller you should have been short on gold all the time as well.