Thursday, August 18, 2005

Guesstimates on August 18, 8:50 am ET

S&P Futures: I think that 1217 will be support today and that the market will start a rally to 1268 from there.

Bonds: It still looks like the bonds will drop to 115-04 before resuming their rally into the 121-123 zone.

10 Year Notes: I think the notes will drop to 110-16 before the rally resumes.

Eurocurrency: This morning the market broke below support at 122.70 but I think later today it will rally and close back above that level. The next step up will carry to 125.60.

October Crude: Will drop to the bottom of its current box near 62.50 and then rally a dollar or two.

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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