Thursday, March 02, 2006

Guesstimates on March 2 , 8:50 am ET

March S&P Futures:  I think the market will now drop to 1273 or so before beginning an upswing to  1320.  

June Bonds: The next downside target is at 111-16 while resistance today is again at 113-08. I think the market is on its way into the 107-108 zone.

June 10 Year Notes: Resistance is at 108-04 while the next support level beneath the market is at 107-10. I think notes will reach 104 or so in a few months.

Cash Eurocurrency: The next downside target is117.20 while resistance is still at 119.80. A drop to 113 and below is underway.    

April Crude: The market is on its way to 57.20 Crude is headed for 52.00 and eventually lower than that.

April Gold: I think a drop of $100 is underway. The market should hold resistance at 570 and then drop to 512.

May Silver: I think a drop of $2.00 is underway. The market has moved a little past 982 resistance but I think it will soon drop to 870.

Google: I think the 337 low will hold and that the next move will carry GOOG to 405 and then to 495.

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