Friday, December 26, 2008

Guesstimates on December 26, 2008

Spiders - March S&P  E-mini Futures:  The worst I see for this reaction on the downside is the 830-40 zone.  A move above 878 will mean that the market is headed for its next upside target at 945. I still think that that the 1000 level will be reached next month.  

QQQ: The Q’s are headed for 34.

TLT - March Bonds: The market will probably make it to 145 before any substantial break begins.   

March 10 Year Notes: The 128 resistance will probably be broken and the notes should reach 130 before the market turns lower.   

Euro-US Dollar: The euro has found support near 138.00.  I think we shall see a move up to 152.00 or so before the bear market resumes.

Dollar-Yen: I think the 87.50 level will hold and that a rally to 100.00 is imminent.  

XLE - OIH - USO – February Crude: Crude has dropped below 40.00 and this means it will probably continue down to the 32-34 zone.

GLD - February Gold: The 885 level should prove to be resistance and the market should soon resume its move down into the 550-600 range.  

SLV - March Silver: I still think this is a bear market.  Next resistance above the market is at 1165. Next downside target is 650.

Google: Google has reached the 250-60 target zone which should be the end of its drop from 747.



DC said...

Carl, curious if you have done any updated G. Lindsay projection work. thx D

PM said...

Hi Carl,

I closed out my long position at 870.00 just now and will wait for a buy signal. This means we need to close above 919.90 for Monday.


Kindest regards,