Wednesday, July 20, 2005

Guesstimates on July 20, 8:30 am ET

S&P: The market should hold support at the bottom of its current box at 1224 and then rallyto the 1/2 point of the box at 1246.

Bonds: Yesterday's low at 115-11 ended a six week drop and now the market has started a move up intothe 121-123 range.

10 Year Notes: Yesterday's low at 111-11 ended a six week drop and now the notes are headed for 116.

Eurocurrency: I think the market will hold suport at 119.90 and has started a really into the 125-126 range.

September Crude: resistance is the 1/2 point of the current box at 59.50 and the next downside target is the 1/2 point of the next box at 54.70.

Gold: I now think the market will drop to the bottom of its boxe at 416 and then start a big rally.

Google: headed up to 327.

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