Friday, May 09, 2008

Guesstimates on May 9, 8:00 am ET

Spiders - June S&P E-mini Futures: Support today is at 1375. I think it is likely that the market will begin a rally from that level into the 1430-40 range.

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 traded as high as 125.95 this morning and I think another break of at least $10 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 540. I think a big move upward is underway. Next short term upside target is 640.

2 comments: said...

Hi Carl,

Markets are "fool Americans" with oil 125.

Fooled Americans with a mountain of debt is doomed. Quicker facing the reality is better.

Other than that,

Have a good weekend

Anonymous said...

I don't know if anyone gave you any accolades for your last trade; so here is one.
Great job. I am a day trader so I imagine the patience to hold on to a trade through 20 or 25 point swings must be immense.

Thanks for sharing your calls.