Tuesday, July 12, 2005

Guesstimates on July 12, 8:50 am ET

S&P: Support now stands at 1213 and the market should reach 1234 this week.

Bonds: Resistance is at 117-08 and downside target is 115-04.

10 Year Notes: resistance is at 112-08 and downside target is 111-08 to 111-12.

Eurocurrency: I think a rally to 124 has started. Support is 120.90.

August Crude: The bull market is over and next downside target is 54.50. Resistance is at 59.50

Gold: I now think that support at 422 will hold and that the market will soon move above 444.

Google: headed down to support near 275.

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