Wednesday, November 23, 2005

Guesstimates on November 23, 8:40 am ET

December S&P Futures: The S&P futures have nearly reached resistance in the 1265-68 zone and now will probably react down to support around 1246. Next step up will be to 1280.  

December Bonds: The bonds will probably drop to support near 112-04 and then rally to 113-25.  

December 10 Year Notes: The notes will probably drop to support near 108-20 and then rally to 109-28.

December Eurocurrency: The market hit 118.90 early this morning and then dropped. I think support has come up to 117.50. Next step up will carry to 121.00.

January Crude: The market has held resistance at 58.90 and now will move to the downside target at 54.20.

December Gold: There is still a good chance we will see a reaction to 482 or so before a move to 507 develops.

Google: Resistance is at 418 while support is now at 396.

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