Forecasts for the Stock, Bond and Commodity Markets

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Guesstimates on September 4, 8:20 am ET

Posted on September 04, 2008

Spiders - September S&P E-mini Futures: I covered my e-mini short position after yesterday s close at 1276.50. The advancing issues numbers on this two day drop have been relatively strong. This coupled with the market s refusal to drop below 1265 during the second half of yesterday s trading session makes me much less confident that the 1250 level will be reached on this break. In any case, the next big move should be upward. QQQ: Support is at 44.00. I think the Q s will soon take a step up to 51.00. During the next few months the market should rally to 55 or higher. TLT - D...

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