March S&P E-mini Futures: Today's range estimate is 1116-1130. I expect the market to reach 1200 over the next three months.
QQQ: A rally to 50.00 is underway.
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.
April 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. The market has moved substantially above 1120 resistance but I expect it to stall in the 1150-60 range and then head lower. Strength above 1160 would mean that it is headed instead for 1300.
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.
2 comments:
There is a very interesting article here: http://abnormalreturns.com/
on Contrarian Investing. Carl, this describes your methods pretty well, in my opinion.
Carl,
The continuous contract for Silver is trading well over your resistance level of $17 (17.20 as I write). In your guesstimates, I assume you mean the spot price and not the ETF SLV? If so, wouldn't it now be "support below the market is at 17.00"?
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