Thursday, March 23, 2006

Guesstimates on March 23 , 8:50 am ET

June S&P Futures: I think the market will drop to 1297 or so and then move above 1320.

June Bonds: The bonds are headed downward. Resistance today is t 111-08. I think the market is on its way into the 107-108 zone over the next few months.

June 10 Year Notes: The notes are headed downward from here. I think notes will reach 104 or so in a few months.

Cash US Dollar -Euro: Support is 120.20 but so far we have seen only the first phase of a three phase correction. Resistance is 121.60. Once all three phases are complete I think the market will move to 125.00.

May Crude: The market is now headed down to 56.80-57.20. I still think that over the next few months the market will drop to 52.00 or lower.

April Gold: I still think gold is headed for 598. It is acting noticeably weaker than silver so I think the bull market here is on its last legs.  

May Silver: I think that silver is headed  for 1095.  

Google: I expect support at 334 to hold and after that Google should rally to 358 or higher. I am still convinced that continuation up to 405 and then to 495 is very likely.

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