Wednesday, August 24, 2005

Guesstimates on August 24, 8:40 am ET

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

Bonds: 116-30 is resistance today and from there the market will drop to 115-04 before resuming the rally into the 121-123 zone.

10 Year Notes: Resistance today is 111-31 and the notes will then drop to 110-30 before the rally resumes.

Eurocurrency: The market will hold supuport at 121.70. The next step up will carry to 125.60.

October Crude: The market will be tested by the petroleum status report at 10:30 am ET today but I think any bullishresponse will be short lived and that market will begin a drop to 60.50.

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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