Monday, August 01, 2005

Guesstimates on August 1, 8:50 am ET

S&P: The market will hit 1257 in a couple of days; meantime 1232 is support.

Bonds: The bonds won't go below last week's low at 114-29 and will soon rally back to the top of the current box at 116-18.

10 Year Notes: I don't think the notes will go much below the 1/2 point of the box at 110-30 and the market will soon rally to the 1/2 point of the next box at 111-26.

Eurocurrency: A reaction down to the bottom of the box near 121.80 would be normal but the market will soon reach the top of the box at 123.70.

September Crude: Support is at 59.70 and upside target is 62.10.

Gold: Upside target is 436 and 450 after that.

Google: 268 is support and the next move up will reach 343.

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