Tuesday, September 20, 2005

Guesstimates on September 20, 8:50 am ET

S&P Futures: Support is still 1235 and the next short term target is 1268.

December Bonds: I think the next big move will be upward into the 121-123 range and that the August 8 low at 113-11 will not be broken in the meantime.  Support today is again at Friday’s low of 114-14.

December 10 Year Notes: I think the August 8 low at 109-02 will not be broken before the market moves up to 116.  Support today is again at Friday’s low of 110-16.

December Eurocurrency: The German election knocked the market through 122.70 support and I think it is now headed a full box lower to 120.80.  I still think that the market will move up at least to 126.50 before the bear market resumes.

November Crude: I think the market has made a top near 67.30 resistance and will now move below 62.50. We should see the 55.50 level in a few weeks.

December Gold: Resistance near 468 is pretty strong and I expect a reaction from here. The 455 level is support.  I think the bull market in gold has much further to go.

Google: 290 is support; upside target is 343.  

2 comments:

hortons768im said...

carl, i was just going thru your previous post. you had mentioned MSFT's target..you had mentiond a target price of 40+..

a 40-50% upward move..any explanation on how you came up with that target? would appreciate your reponse.

Carl Futia said...

Here is my response.

Take a look at my first post on MSFT. You can find it in my index of stock market posts. The only explanation I can offer is the one yu find in that post.