March S&P E-mini Futures: Today's range estimate is 1048-1068. I expect the ES to do some base building in this range and then begin a move to 1200
QQQ: A rally to 50.00 has begun.
TYX (thirty year bond yield): I think this market is headed for 5.00%.
TNX (ten year note yield): I think that the market has begun a swing up to 4.30%.
Euro-US Dollar: This market is now headed for support near 131.00. Resistance above the market is at 141.00. Looking further ahead I think that a drop to 125 is likely over the coming months.
Dollar-Yen: A rally to 100.00 is underway. Support is at 90.00.
March Crude: I think the market is headed for 50.00.
GLD – April Gold: The longer term trend has turned downward. I expect gold to drop to 875 over the next few months. Resistance above the market is at 1120.
SLV - March Silver: I now think silver has started a down move that will carry it to 10.00 over the next few months. Resistance above the market is at 17.00.
Google: The next significant move should take GOOG above 700.
3 comments:
Carl,
When you get a chance, would you explain what changed your outlook on the metals to bearish? Also, for any of the markets on which you comment, I would be very interested in:
1. thoughts behind your price targets;
2. any boxes you are using; and/or
3. midpoints
Perhaps you could consider doing individual update posts sometime soon on the markets for which you give daily 'guesstimates'.
Received yesterday my copy of your book and looking forward to a good read this weekend!
Bulls,
Enjoy a nice couple up days today and tomorrow. After that, Wave (iii) of 3 down will be the most strong move yet. I'm looking for the S&P to challenge the 1000 mark by the end of next week to early following week.
Jeff comments are starting make this comment section sound like the Yahoo boards! Stop wishing Jeff!
Btw tomorrow the markets are closed
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