Tuesday, July 19, 2005

Guesstimates on July 19, 8:40 am ET

S&P: The market should hold support at the bottom of its current box at 1224 and then rally to the 1/2 point of the box at 1246.

Bonds: The downside target of 115-04 is nearby and once the market turns I think it will head up above 120.

10 Year Notes: The notes are drawing closer to the downside target at 111-00 and will soon start a move to 116.

Eurocurrency: I think the market will hold suport at 119.90 and then rally ro at least 125.

September Crude: resistance is the 1/2 point of the current box at 59.50 and the next downside target is the 1/2 point of the next box at 54.70.

Gold: I now think the market will drop to the bottom of its boxe at 416 and then start a big rally.

Google: headed up to 327.

No comments: