Friday, November 18, 2005

Guesstimates on November 18, 8:50 am ET

December S&P Futures: The S&P futures have reached resistance at 1246.  Support is still at 1228 but if this is a strong breakout move I would expect any reaction to make a higher low around1238.  Next upside target is the top of the current box near 1265.

December Bonds: The bonds are headed for 115-08 at least.  Short term resistance is at 113-25 and support is now at 112-04.  

December 10 Year Notes: The notes nearly reached 109-08 and support is still at 108-10. Next upside target is 109-28 and the market should reach 111-00 over the next few weeks.

December Eurocurrency: I think the 117.00 level will hold and that the market will now rally to 118.90 and then to 122.00.

January Crude: The market is headed for 54.20 and meantime 59.80 is resistance.

December Gold: There should be a modes reaction from 490 back to 480 or so and the next step up should be to 507.

Google: Resistance is at 418 while support is at  379.

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