Friday, August 19, 2005

Guesstimates on August 19, 9:05 am ET

S&P Futures: I think the market will hold 1217 support and start a rally to 1268.

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: The market broke a little below 121.70 support this morning but I expect a close above that level today. The next step up will carry to 125.60.

October Crude: Stopped 20 cents shy of 62.50 yesterday and has already rallied a couple of dollars. The 1/2 point of the current box at 65.30 is resistance and I expect the market to start another down leg from there.

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

Google: 272 is support; the next move up will reach 343.

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