Friday, December 23, 2005

Guesstimates on December 23 , 8:50 am ET

March S&P Futures:  1264 is support and I think the market is now on its way to 1298.

March Bonds: I think the bonds are on the way to 114-16. I expect the bonds to rally into the 115-116 zone before the bear market resumes.

March 10 Year Notes: The notes should rally to 109-28. I expect this market to move into the 111-112 zone before the bear market resumes.

March Eurocurrency: Short term support is at the 118.20 level and the next upside target is 122.30.  The market is eventually headed for 123.50.  

February Crude: I now think the market is headed for 56.90.  I expect crude to trade in a range of $54 to $64 for several months before going much lower.

February Gold: Market should rally to 522..  Meantime 498 is support. I think that the 544.90 high will hold for at least several weeks.

March Silver: Silver  will rally to 880 and meanwhile 845 is support. The high at 934.5 (electronic) will hold for at least several weeks.

Google: GOOG will trade between 415 and 435 for a few days. The next upside target is 490.  

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