Friday, December 02, 2005

Guesstimates on December 2 , 8:40 am ET

December S&P Futures: It looks to me like the S&P futures are headed for 1285 and eventually much higher than that. Support today is at 1260.

March Bonds: The market is headed down to 111-04 and from there should rally to 113-28. I expect the bonds to rally into the 115-116 zone before the bear market resumes.

March 10 Year Notes: The notes are headed down to 107-30 from which level they should rally to 109-28. I expect this market to move into the 111-112 zone before the bear market resumes.

December Eurocurrency: I think the market is headed for 115.50 before it can rally substantially.

January Crude: The market should bounce off of 59.80 and then drop to 54.50. I expect crude to trade in a range of $54 to $64 for several months before going much lower.

February Gold: The 510-513 zone is strong resistance and I expect a break from that level down to 480-85.

Google: I expect support near 400 to hold and the next swing up should carry to 442.

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