Tuesday, August 16, 2005

Guesstimates on August 16, 8:50 am ET

S&P: The 1227 level is support and the next step up will carry the market to 1268.

Bonds: I am expecting a two box rally from the 113-24 low which makes 116-16 the upside target for the next couple of days.

10 Year Notes: I am expecting a two box rally from the 109-27 low which makes the upside target 111-20.

Eurocurrency: Broke support at 123.60 but will hold support at 122.70. The next step up will carry to 125.60.

September Crude: I think the market will hold Friday's high at 67.10 and head down to 64.40.

Gold: Support is at 444 and the next step up will carry to 463.

Google: 280 is support; the next move up will reach 343.

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