Wednesday, September 07, 2005

Guesstimates on September 7, 8:45 am ET

S&P Futures: A rally to 1268 has begun. Support today is at 1224.

December Bonds: The market has dropped below support at 117-08 so a move to the bottom of the current box near 116-20 is underway. The 121-123 zone is my target for the next couple of months.

December 10 Year Notes: Support at 111-30 was broken and I now expect the notes to drop to 111-16 before the rally to 116 can resume.

Eurocurrency: I expect the September Eurocurrency to hold support at 124.65 and then rally to 126.50.

October Crude: A bounce from support near 65.00 is likely but the market should rally no further than 67.20.

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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