Guesstimates on October 4, 8:50 am ET

December S&P Futures: I think the market is headed for 1360. The 1340 level is support today. Much higher prices are likely later this year.

December Bonds: The bonds are likely to rally from 112-00 support to 114-04. I think that a more substantial drop will develop from the 114-115 range.

December 10 Year Notes: The market reached support around 108-00. The next step up should carry it to 109-00. I think the notes will rally into the 109-110 range before a more substantial drop begins.

Euro-US Dollar:  I think that the market is now headed back down to 124.50 and eventually much lower than that.

Dollar-Yen: The yen is now headed for resistance at 119.50. I expect to see the yen at 130 next year.

November Crude:  I think the market will now rally to resistance near 65.00.  However I also expect to see crude trading in the 50-55 range sometime during the next 6 months.

December Gold: The market has turned down from a lower top and now is headed below 500.

December Silver: The market has turned down from a lower top and is now headed below the 900 level.

Google:  Support is at 394 and I think GOOG will soon move above its all time high of 475.