Thursday, September 08, 2005

Guesstimates on September 8, 8:45 am ET

S&P Futures: A rally to 1268 has begun.  Support today is at 1224.

December Bonds: I think that support at the ½ point of the current box near 115-28 will hold and that a move to 119-12 has started. The 121-123 zone is my target for the next couple of months.

December 10 Year Notes: Support at the bottom of the current box near 111-12 will hold and the next swing will be upward to 113-24.  The 116 level will be reached during the next couple of months.

Eurocurrency: I expect the September eurocurrency to hold support at 123.70 and then rally to 126.50.

October Crude: Resistance is at 67.20 and I think the market is headed for 55.50 over the next few weeks.

December Gold: The market is on its way to 468.      

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

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