Thursday, November 03, 2005

Guesstimates on November 3, 8:50 am ET

December S&P Futures: The market will probably bounce off of 1223 resistance but should be able to hold just above the  ½ point of the box at 1202. Next step up will carry to 1246.  

December Bonds: The longer term trend in the bonds is downward. Resistance above the market is still at 112-16 and the next step down will carry to 110-18.

December 10 Year Notes: The longer term trend is downward.  Resistance above the market is at 108-24 and the notes are taking another step down to 107-20.  

December Eurocurrency: The market stalled at 121.80 resistance and is now on its way to my 117.50 to 118.50 target area.

December Crude: The market is headed for the next downside target at 57.90. Resistance is at 61.50. The market should be trading below 56.00 soon.

December Gold: The market is now headed for 500. Support is at 461.

Google: Resistance is at 389 while support is at  361.

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