Monday, September 19, 2005

Guesstimates on September 19, 8:45 am ET

S&P Futures: The market is on its way to the next short term target at 1268.

December Bonds: I think the next big move will be upward into the 121-123 range and that the August 8 low at 113-11 will not be broken in the meantime.  Support today is at Friday’s low of 114-14.

December 10 Year Notes: I think the August 8 low at 109-02 will not be broken before the market moves up to 116.  Support today is at Friday’s low of 110-16.

December Eurocurrency: The German election knocked the market through 122.70 support and I think it is now headed a full box lower to 120.80.  I still think that the market will move up at least to 126.50 before the bear market resumes.

November Crude: I think the market will rally a full box from Friday’s low to 65.30 or so before the down trend resumes. We should see the 55.50 level in a few weeks.

December Gold: The market has reached 468 resistance.  The 455 level is now support and I think the bull market in gold has much further to go.

Google: 290 is support; upside target is 343.  

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