Thursday, June 26, 2008

Guesstimates on June 26, 8:30 am ET

Spiders - September S&P E-mini Futures: The market is in a trading range which I think will be followed by a rally to 1500. Today support is at 1300. From that level I think we shall see a rally to 1330.

QQQ: I think the Q’s will hold support in the 45-46 range and then begin a rally to 55.

TLT - September Bonds: I don’t see any sign of an important low shaping up so I think the bonds will drop to 109-110 before turning upward again. Resistance stands at 115. TLT has nearly reached its 88 target.

September 10 Year Notes: The notes have reached the 111 level but there is still no sign of a significant low. I think the market will continue down to 109. Resistance stands at 113-24.

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 103.00.

XLE - OIH - USO – August Crude: Long term resistance remains in the 135-37 range and makes me think that the market’s next big move will be downward into the 112-115 zone. A close above 140 will change my mind about this prognosis and mean that the market is headed for 160-165.

GLD - August Gold
: I think gold is headed for 750. Resistance is at 910.

SLV - July Silver
: I think the trend in silver is downward and will carry the market at least to 1400. Resistance above the market is at 1760.

Google: I am raising my downside target for Google to 525. I think GOOG will then begin a move to 750 or above.


Win said...

Wow - I'm sorry about that horrible comment from Susn, Carl. It's really sad that you have to take that for helping us all so much. I for one would be happy to pay for a service to learn from you. You're providing education here, and I don't think you should have to deal with this riffraff.

Thank you for what you do. Again, I am a very small trader, but would be happy to pay what I can if only to keep out the stupid people.

Anonymous said...

Great-Thanks for posting charts~

Anonymous said...

I for one am very appreciative of your sharing your views based upon your study and experience including losses which undoubtedly occurred. I am sure that you have many many readers who share this attitude but who also believe it is sort of discourteous to load up a comments section with posts not directly related to trading. If you, Carl, do not get lots of overt expressions of appreciation, please assume from the silence that your readership is thankful for all you share with us.

Anonymous said...

Carl, Does your work focus on time as well as direction? For ex., do you have any opinion as to /when/ the US/Euro rate may move? The reason for asking is that FX rates seem to "wander" sideways for long periods of time, and a sense of /when/ a rate will trend may be as useful as a sense of direction.

Anonymous said...

"The market is in a trading range which I think will be followed by a rally to 1500"

mr. Futia,
afterwards the fracture of support (1300) you still believe this senario? or you have changed opinion?


Anonymous said...

Interesting how the current S&P daily chart is beginning to look like the S&P weekly chart from July 2002 - March 2003.

Jan 23, 2008 = July 24, 2002

March 17, 2008 = Oct 10, 2002

?? ?? 2008 = March 12, 2003