Swing Trading Strategies & Stock Picks Since 2003

Spiders - September S&P E-mini Futures:  T e-minis will probably drop to support in the 1200-10 zone before they move up above the 1300 level. In any case I expect last week’s 1136 low to hold for quite some time. The current rally should carry the S&P up to1400 during the next few months and much higher than that next year. 

QQQ: The Q’s will probably drop to 41.00 over the next couple of days and then start a move up to 45.00.  

TLT - December Bonds: I think a big drop has begun in the bonds. It should carry the market back to 111 or lower. 

December 10 Year Notes: The notes are now headed for the 110-111 zone. 

Euro-US Dollar: The trend in the euro is downward and I think the market is headed for 135. Resistance above the market is at 147.50. 

Dollar-Yen: Resistance is at 108.50 and I think the market is headed for 98.00. 

XLE - OIH - USO – October Crude: Crude has resistance at 110.00. Next downside target is 75.   

GLD - December Gold: Gold still has resistance at 935, but my guess now is that Thursday’s 925 high marked the end of the rally. I think gold will soon drop to 600. 

SLV - December Silver: Resistance is at 1330. Next downside target is 900.   

Google: I am not very sure about Google’ technical position. I still think it has a good shot at 375 before it resumes its long term bullish trend.