Thursday, August 03, 2006

Guesstimates on August 3, 8:50 am ET

September S&P Futures: The market appears to be stuck in a 1270-1288 trading range. Support is at 1273 and the next upside target is 1296.  

September Bonds: Resistance is at 108-20 and support at 107-24. The market is in the midst of a bigger rally to 110.  

September 10 Year Notes: Resistance is at 106-04 and support at 105-18.  The notes are headed for 107.  

Euro-US Dollar: Resistance today is 128.30 The market will soon begin a drop to below 123.00.

Dollar-Yen: The yen should hold 114.30 support. The next development will be a rally to 120.00. The yen should reach 130 over the next year.

September Crude: Downside target is 68.00 and resistance above the market is at 75.90.

December Gold: Gold should reach the 700 level before a swing to below 500 begins.

September Silver: I now think silver will rally to 1270 before a swing to below the 900 level starts.

Google:  Support is at 364 and I think GOOG will soon move above its all time high of 475.  

1 comment:

Tractatus said...

Nice call on Goog.