Wednesday, October 26, 2005

Guesstimates on October 26, 8:50 am ET

December S&P Futures: Next resistance above the market is 1213 while support is now at 1186. I think the market has started a move to 1350.

December Bonds: The bonds should hold support at 111-30 and then begin a move to 115-00. I still think this market is about to swing upward into the 121-123 range.

December 10 Year Notes: The notes should hold support near 108-14 and then begin a bit move upward.

December Eurocurrency: The 121.80 level is still resistance and the next low should be in the 117.50 to 118.50 range. After that a rally to 124 is likely.

December Crude: I think prices will reach the 63.30 level and then head down to 57.90.  The market should be trading below 56.00 soon.

December Gold: The market’s has held support at 463 and is now probably headed for 500.  

Google: Short term target is 352 and support is at 325. I still think Google will trade well over 360 before its bull market is done.

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