Friday, July 15, 2005

Guesstimates on July 15, 8:40 am ET

S&P: The market is holding support at the breakout point of 1229 and I don't expect much of a reaction until the market gets to the 1/2 point of the box at 1246.

Bonds: Resistance is 116-20 and the market will soon drop to the downside target at 115-04.

10 Year Notes: Resistance is 111-28 and the market will soon drop to the downside target at 111-00.

Eurocurrency: I think this rally will at least reach 125. Support is 120.90.

August Crude: resistance is the 1/4 point of the current box at 58.50 and the next downside target is the 1/2 point of the next box at 54.70.

Gold: I think that support at 419 will hold and after that a move above 444 will begin.

Google: headed up to 327.

No comments: