Thursday, July 07, 2005

Guesstimates on July 7, 8:55 am ET

S&P: The market broke below the bottom of its box at 1180 on the London terror news but I think thatthe early low at 1167 will hold and that the next move will be upward past 1230.

Bonds: I think the 118-30 high reached on the terror news will hold and that the market is nowheaded for 115-04.

10 Year Notes: This morning's high at 113-18 should hold and the notes are on their way to 111-12.

Eurocurrency: Support is still 118.90. Next big rally will carry above 125.

August Crude: Hit 62.00 resistance then broke to support at 57.30 so now is headed higher to 63.60. The bull market is nearly over.

Gold: will probably stall near 430 then break to 416 and then a move above 444.

Google: headed down to support near 275.

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