Friday, January 27, 2006

Guesstimates on January 27 , 8:50 am ET

March S&P Futures:  Support today is at 1275 and I think the market is on its way to 1320. The market should reach the 1350 level in a couple of months.  

March Bonds: There is resistance at 113-12 and from there the bonds should drop to 112-00. I think the market is on its way into the 107-108 zone.

March 10 Year Notes: Resistance is at 109-00 and from there the notes will probably drop to 107-30. I think the market is headed down to 104 or so.

Cash Eurocurrency: Resistance is still at 123.00 and I now think the market is headed down to at least 113.  

March Crude: Resistance today is at 67.50 and I think this market is on its way to 55.00.  

February Gold: A move down to 470 is underway. Resistance today is at 565.

March Silver: Silver reached the 979 level this morning.  This market has been stronger than I expected but I think the 979-985 zone will mark the start of a move down to 750 or so.

Google: GOOG should hold support near 420 and the next upside target is 495.

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