Wednesday, August 03, 2005

Guesstimates on August 3, 8:45 am ET

S&P: The market will hit 1257 in a couple of days; meantime 1234 is support.

Bonds: The 1/2 point of the box at 114-15 is support and the bonds will now swing up at least to 115-26.

10 Year Notes: The bottom of the box at 110-17 is support and the notes will now move up to 111-12.

Eurocurrency: The market will now bounce off the top of its box near 123.70. Still higher prices lie ahead but a one box reaction would be normal here.

September Crude: At the moment the market is trading a bit above the top of the box at 62.10 but I still think thatthe next big move from here is downward.

Gold: Upside target is 436 and 450 after that.

Google: In yesterday's Google post I said that 292 is again likely to be support; the next move up will reach 343.

No comments: