Friday, September 02, 2005

Guesstimates on September 2, 9:10 am ET

S&P Futures: A rally to 1268 has begun.  Support today is at 1218.

December Bonds: The market has stalled at the top of its box at 117-30 and support is at the ½ point near 117-08.  I think it will rally above 119-00 before any break of more than a point occurs. A move into the 121-123 zone is underway.

December 10 Year Notes: Support is  at 111-30. The market will trade above 114-00 before any reaction of as much as a point occurs. The 116 level will be reached in a month or two.

Eurocurrency: The market will stall temporarily at 125.60.

October Crude: There is very strong resistance in the 70.00 to 70.50 zone and I think the market will drop below 66.00 in a few days.

December Gold: The market is on its way to 468.      

Google: 272 is support; the next move up will reach 343.  

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