Monday, October 31, 2005

Guesstimates on October 31, 8:50 am ET

December S&P Futures: The market is headed for 1223 and eventually to 1350.

December Bonds: A close today below 113-11 will confirm that the longer term trend in the bonds has turned downward. Resistance above the market now is at 112-16.

December 10 Year Notes: A close below 109-02 today will mean that the longer term trend has turned downward.  Resistance above the market is at 108-24.

December Eurocurrency: The has stalled at 121.80 resistance and is now on its way to my 117.50 to 118.50 target area.

December Crude: The 63.30 level is still resistance but it now looks like the market is headed for the next downside target at 57.90. The market should be trading below 56.00 soon.

December Gold: The market is now headed for 500.  

Google: Has reached the short term  target at 352 and support is now at 334.  Next short term upside target is 369.

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