Monday, July 11, 2005

Guesstimates on July 11, 9:10 am ET

S&P: Support now stands at 1207 and the market is heading up to 1234 this week.

Bonds: The 116-16 level should be close to today's low but the upside will be limited to 117-00. I am raising the downside target to 115-16.

10 Year Notes: the 111-20 level should be close to today's low. Resistance above the market is 112-02 and the notes should drop into the target 111-08 to 111-12 zone soon.

Eurocurrency: I think a rally to 124 has started. Support is still 118.90.

August Crude: The bull market is over and next downside target is 54.50.

Gold: I now think that support at 422 will hold and that the market will soon move above 444.

Google: headed down to support near 275.

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