March S&P E-mini Futures: I think the e-minis will drop into the 847-52 zone before moving higher. I am still expecting to see a demand shock sometime during the next couple of days to confirm that the market is headed for 900 and then for 1000.
QQQ: Support below the market is at 26.50. Strength above 30.00 will mean that the Q’s are headed for 34.00.
March Bonds: This market will probably continue lower to 126-127.
March 10 Year Notes: The short term trend should carry the notes to 120. .
Euro-US Dollar: The euro has traded sideways for several days after dropping as low as 127.50. I think a rally to 137 or so is underway.
Dollar-Yen: I think the 87.50 level will hold and that a rally to 100.00 is underway.
March Crude: The 50.00 level is resistance and I think March crude will drop down into the 30-35 zone.
GLD - February Gold: The market will probably reach 935 before it turns lower. Meantime support is at 865. I still think that we shall see the market 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 now at 1250. Next downside target is 650.
Google: Resistance stands at 375. Google reached the 250-60 target zone and I think that its drop from 747 is over.
2 comments:
Im short the dow since yesterday's close, and long bonds. (they kinda put a lot of scare on the folks today, but i think they not going lower from here)
Agree with all your forecasts and direction. Only eception is that I expect spx to stall between 900 and 1000.
C
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