Tuesday, August 30, 2005

Guesstimates on August 30, 8:45 am ET

S&P Futures: A rally to 1268 has begun. Support today is at 1202.

Bonds: I think the bonds will drop to 115-28. From there the market will resume its
rally into the 121-123 zone.

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

Eurocurrency: The market has dropped back to support at 121.70. I think this level will hold and that a move up to 125.60 will begin.

October Crude: The market rallied off of the low of a box at 66.30 late yesterday and now has reached the top of a box at 68.20. I think it will turn down from here and drop to the bottom of the next lower box at 64.40.

December Gold: The market broke below support at 442 last night but should hold the 436 level, the bottom of its current box. The next step up will carry to 468.

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

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