Monday, October 30, 2006

Guesstimates on October 30, 8:50 am ET

December S&P Futures: Support today is at 1379. Resistance above the market is at 1388. I think the S&P’s are on the way down to 1369. In any case I expect to see a 1415 print later this year.  

December Bonds: The trend has turned upward in the bonds and that the market is headed for the 115 level. Support today is at 111-112.

December 10 Year Notes: The trend has turned upward and the notes are now headed for 110-16. Support today is at 107-16.

Euro-US Dollar:  The euro is headed back up into the 129-130 zone. Support today is at 126.30 while the next upside target is 128.50.

Dollar-Yen: It looks like the trend in the yen has turned downward and that the market is headed for the 116-117 zone. I expect to see the yen at 130 next year.

December Crude:  The market should find support near 59.20 and then rally to 63.00. before turning lower again.  

December Gold: I think the market will reach 613 or so before beginning its drop to 545 and below.

December Silver: It looks like silver can rally some more to 1250 or so before starting its drop to below 900.

Google:  GOOG will soon reach its initial 507 target and then move on to its higher 564 target.  Support is at 462.  

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