Thursday, July 24, 2008

Guesstimates on July 24, 8:15 am ET

Spiders - September S&P E-mini Futures: The market reached resistance at 1290 yesterday and I think the next development will be a break of 40-50 points. Support is still at 1239. I also think the market is in the early stages of a rally which will carry it to 1500 over the next several months. 

QQQ: Support remains at 44.00. Resistance stands at 47.50.  During the next few months the market should rally to 55 or higher.    

TLT - September Bonds: The trend has turned downward once more and the bonds are headed for 109. 

September 10 Year Notes: The trend has turned downward and the notes are headed for 108.   

Euro-US Dollar: The trend has turned downward in the euro and I think the market is headed for 135. 

Dollar-Yen: A rally to 112.00 is now underway.  Support is at 105.00. 

XLE - OIH - USO – September Crude: Crude broke below 133 support so I think that it is now headed for 100. The 133 level is now resistance. 

GLD - August Gold: Gold broke below 935 support yesterday so now I think it is headed for 750.   

SLV - September Silver: A break below 1750 support will mean that the market is headed for 1250. 

Google: The 460-80 range is good support and I expect the market to hold there and begin a move which will carry it over 750. 


Anonymous said...

i think the eurusd is headed for 1.5600 and then lower below 1.50. Crude oil is headed for 121 and 96 after while 144 is strong resistance, in my opinion. I think gold has topped out and is headed down from 987 onward and heading for 697 USD. Good trading all !MC

Anonymous said...

Now, no one wants to argue. Hmmmmmmm

Anonymous said...

The lack of comments is disappointing. I guess another day or two and we'll have all the "Carl is an idiot" posters out in full. That will identify the next buy opportunity.

Anonymous said...

ONE COMMENT...WHAT THE H3!!...where are all the name callers.

Anonymous said...

That 40-point break happened FAST! I've found that Carl's predictions are mostly on the money but take some more time to develop. This is most of the reason why he takes potshots from people who claim to think his stuff is sh*t yet somehow feel compelled to read AND comment on it.

Is it just me, or is the market hyper-sensitive to technical levels right now? It seems like everyone is trying to get there first, so rather than slow reactions we are getting very quick ones.

Anonymous said...

i comment on both sides of mr futia's positions, always based on the geometry of the markets. i have taken the time to post some recent charts in the public area of daytrading forum at have included charts of dia and qqqq to show how my geometry was in synch with mr futia's at yesterdays top. you will see why despite being bearish on bonds , i was forced by the geometry to cover at yesterdays lows. i have included the GS chart that continues to bother me and i have included the chart of DTO that got traders short oil moments before the collapse.i hope some will take the time to look.. i too lve the geometry as does mr futia .

Anonymous said...

all the were is the naysayers is very funny I have been calling a decline saying carl is wrong and you idoits come out of the woodwork thinking that this little down move we had today was all there is this is just starting come back when carls 1239 fails and the markets crash. THe whole world is in trouble austalia isbailing out asia is a mess. It is not just us. This is a whole world of mess and yes the market will someday bottom but not anytime soon. Just wait till the tanking gets heavy and your jaws drop.

Anonymous said...

maybe because carl does not post the bashers comments is why you see none.

Carl Futia said...

10:04 pm:

I post all comments with the exception of those that are primarily personal attacks on me or on another commenter.

Anonymous said...

Regarding the anonymous that posted on, can you provide a link, username, or point in the direction of your post. I am very interested in seeing what you are talking about...moving on...will the anonymous that says, australia bailing out Asia, can you point out what leads you to believe that...I feel you have a valid point...but give us some substance..

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