Thursday, December 14, 2006

Guesstimates on December 14, 8:50 am ET

March S&P Futures: The market is headed for resistance in the 1437-39 zone.

March Bonds: The bonds are headed for the 109-110 zone. Support today is at 111-24.

March 10 Year Notes: The notes are headed for the 105-106 zone. Support today is at 108-00.

Euro-US Dollar: I think that a move to 116 and lower has begun. Resistance above the market is at 133.10.

Dollar-Yen: I think a move to 121 and ultimately to 130 has begun.

January Crude: Resistance above the market is at 63.25. I expect crude to drop to 57.50.

February Gold: Gold should rally to 662. Any weakness below 620 would cancel this prognosis and mean that an extended drop has begun.

March Silver: I think silver is headed for 1450-1460. After that I shall be expecting a drop below 940.

Google: Last January’s top at 475 is now support and I expect Google to resume its rally to 564.

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