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Guesstimates on May 9, 8:00 am ET
Spiders - June S&P E-mini Futures: Support today is at 1375. I think it is likely that the market will begin a rally from that level into the 1430-40 range. QQQ: Support is at 46.50. I think the Q’s will move into the 50-51 zone. insert.a.chart.TLT TLT - June Bonds: I think the bonds are on the way down to 112. Resistance is at 117-28. I think TLT will drop to 88. June 10 Year Notes: I think the notes are on the way down to 112. Euro-US Dollar: The weakness late last week means that the market is about to drop to the 140 level. Resistance is at 158.00. Dollar-Yen: The yen is headed for 112.00. Support is now at 101.15. XLE - OIH - USO – June Crude: The market has traded as high as 125.95 this morning and I think another break of at least $10 is imminent. GLD - June Gold: The market should drop into the 750-80 range. Resistance is now at 915. SLV - July Silver: It looks like the silver is headed for 1550 or so. Google: Google now has support at 540. I think a big move upward is underway. Next short term upside target is 640. by Carl Futia (CarlFutia.com) Disclaimer: Please note that charts and commentary provided by the moderator are for educational purposes only. Any trades placed upon reliance on the moderator’s charts or information is taken at your own risk for your own account. Past performance is no guarantee of future results. While there is great potential for reward trading stocks, futures and options, there is also substantial risk of loss and you must decide your own suitability to trade. Future trading results can never be guaranteed. This is not an offer to buy or sell stock, futures, options or commodity interests. Most trading systems are based on historical formulas which have worked in the past. However, what has happened before may or may not happen again. You can lose all your money trading stocks, futures, and options and you must decide your own suitability as to whether or not to trade. Only trade with true risk capital you can afford to lose. Only trade markets you can properly afford to trade. Properly funded trading accounts typically perform better than those that are not. Never risk more than 2-3% of your account on any one trade. Always define your risk before entering a trade and place a stop to limit your risk. There are no guarantees or certainties in trading. Trading involves hard work, risk, discipline and the ability to follow rules and trade through any tough periods during a system’s draw downs. If you are looking for a guarantee, trading is probably not for you. Most people lose money trading. One of the reasons is that they lack discipline and are unable to be consistent. A system can help you become consistent. Ironically, worrying about the monetary aspect of trading can contribute to and cause a trader to make trading errors. Therefore, it is important to only trade with true risk capital. |
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