Tuesday, October 24, 2006

Guesstimates on October 24, 8:50 am ET

December S&P Futures: Support today is at 1378. I expect to see the S&P’s trading at 1390 in a day or two.  In any case I expect to see a 1400 print later this year.  

December Bonds: Resistance is at 110-10 and I think the market will soon be trading at 109-20. Over the next few weeks the bonds should drop into the 107-108 zone.

December 10 Year Notes: The notes should soon be trading at 106-08.  I think the market is headed down into the 104-16 to 105.16 zone over the next few weeks.

Euro-US Dollar:  The Euro is headed down to 123.50.

Dollar-Yen: The yen should now rally to 121.00. I expect to see the yen at 130 next year.

December Crude:  The market is holding  58.40 support and I expect a rally of 4 to 5 dollars to develop from current levels.

December Gold: Gold has begun a drop to below 500. The market should reach 545 in a week or so.  

December Silver: Silver stopped 3 cents shy of 1220 resistance and now has begun a drop to below 900. The 1120 level is short term support.

Google:  GOOG will soon reach its initial 507 target and then move on to its higher 564 target.  Support is at 455.  

1 comment:

Anonymous said...

Does the market's faster than expected rise mean we top out sooner than expected at the same price target (~1420, early instead of late November?)? Thanks - hats off to your fine work.