Tuesday, October 25, 2005

Guesstimates on October 25, 8:55 am ET

December S&P Futures: Yesterday’s late strength convinced me that 1172 was the low of the move down from 1250.  Next resistance above the market is 1213 while support is now at 1186. I think the market has started a move to 1350.

December Bonds: I expect support at 112-24 to hold the next swing upward should carry to 115-00. I think this is the start of a move into the 121-123 range.  

December 10 Year Notes: I think a move to 116 has started. Minor support is at 109-00 and next upside resistance is at 109-30.

December Eurocurrency: The 121.80 level is still resistance and the next low should be in the 117.50 to 118.50 range. After that a rally to 124 is likely.

December Crude: I still think prices are headed to 57.90 with resistance at 61.50. The market should be trading below 56.00 soon.

December Gold: The market’s has held support at 463 and is now probably headed for 500.  

Google: Short term target is 352 and support is at 325. I still think Google will trade well over 360 before its bull market is done.

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