Spiders - September S&P E-mini Futures: The e-minis have probably started a rally to the 1060 level. Support today stands at 890.
QQQ: Support remains at 29.50 and the initial rally will probably carry to 34.00.
TLT - December Bonds: I think a big drop is underway in the bonds. It should carry the market back to 111 or lower.
December 10 Year Notes: The notes are now headed for the 110-111 zone.
Euro-US Dollar: The Euro has dropped as low as 132 and now should rally back to 139 or so.
Dollar-Yen: My revised 99.00 target has been reached. I think this market will stabilize and the yen will soon begin a big rally. Short term resistance is now at 104.00.
XLE - OIH - USO – November Crude: Downside target at 75 was nearly reached Friday. I expect crude oil to begin stabilizing but 75 is still likely soon. Resistance above the market is now at 88.00.
GLD - December Gold: Gold still has resistance at 935. I think gold will soon drop to 600.
SLV - December Silver: Resistance is at 1390. Next downside target is 900.
Google: Google has so far held support around 315 and will probably rally to 380 soon.
5 comments:
well really nice blog
Just sold half of my SPX 910 entry from Friday for 52pts, not bad for a days work!
Good Luck
ex
and so it goes...while readers were taking sides with or against mr futia,i took the time to state how bullish the situation had become basis the way i always know...from the may high, it was not until last thursday that the snp hit its downside target and it was not until friday that the last of the last fell in place.as always there is one joker in the deck this time it is GS. THE greatest service mr futia offers all is to urge traders not to trade without an edge. i took the time to say what i saw based on mine.. i hope some profited..peon
Mr. Futia,
I'm a newbie at currency trading and was wondering if you could clarify something. When you call for a Yen rally, are you stating that it will weaken or strengthen vs. the dollar. I get a little confused because currency quotes are presented both currency/$ and $/currency. Thanks!
_PTA
That Google $380 prediction came true awfully fast! Good work Carl.
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