Wednesday, August 31, 2005

Guesstimates on August 31, 8:55 am ET

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

Bonds: The 117-30 level is resistance and I think the bonds will drop a box or so from there. The market will then resume its rally into the 121-123 zone.  

10 Year Notes: Resistance today is 112-22 and the notes will then drop a box or so before resuming the move up to 116.

Eurocurrency: The market will hold support at 121.70 and then rally to 125.60.  

October Crude: There is very strong resistance in the 70.00 to 70.50 zone and I think the market will drop below 66.00 in a few days.

December Gold: The market 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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