Tuesday, June 03, 2008

Guesstimates on June 3, 8:00 am ET

Spiders - June S&P E-mini Futures: I still think the market is headed for 1360 or even a little lower before it starts a leg up to 1500. Resistance today is at 1392.

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

TLT - September Bonds: I think the bonds are on the way down to 111. Resistance is at 117-28. I think TLT will drop to 88.

September 10 Year Notes: I think the notes are on the way down to 111.

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: I think gold is headed for 750.

SLV - July Silver: I 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...

hi carl
if im correct about point 18 at the january lows and if this is
just a b wave within a 3 wave reaction to the upside in pt 19
then we should see the bottom
this week .im gong to focus on
the 12362 - 12208 range in the cash dow as my guide , a bit wide
yet ill narrow that down later in the week .
crude oil may head higher with the dow which is not something id like to see , but i still think crude oil should be about to head much lower which of course will be seen as a " suprise no body saw coming "
as of today i still think the dow should out perform crude oil over the next 2 years . hard to be bullish despite the extreme optomism in that comodity .

Anonymous said...

If SPX 500 breaks the 1970 limit, for sure it will go further down than 1960. And if it brakes the 1270 limit, then you can be sure we are on a bear market.