Thursday, January 15, 2009

Guesstimates on January 15, 2008

March S&P  E-mini Futures:  The market is headed for the 815 level.  Resistance stands at 850.

QQQ: I think that the market will drop to 26.50.

March Bonds: The short term trend should carry the bonds to 130.   

March 10 Year Notes: The short term trend has turned downward and should carry the notes to 120. .   

Euro-US Dollar: The euro will probably drop to 132 before a substantial rally can start.

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

February Crude: Crude should reach the 30-35 target zone before rallying to the 50.00 level.

GLD - February Gold: The 885 level is still resistance and the market should resume its move down into the 550-600 range.  

SLV - March Silver: I still think this is a bear market.  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.

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