Wednesday, January 25, 2006

Guesstimates on January 25 , 8:50 am ET

March S&P Futures:  Support is at 1262 while resistance is at 1275. I am still looking for a low today in the 1262-65 range and expect the market to start a move to 1320 from there. But strength above 1275 will tell me that this up move has already started. The market should reach the 1350 level in a couple of months.  

March Bonds: Resistance today is 114-22 and minor support is at 113-20. I think the market is on its way into the 107-108 zone.

March 10 Year Notes: Resistance in the notes is still at109-20 while minor support today is at  108-20. I think the market is headed down to 104 or so.

Cash Eurocurrency: Resistance is at 123.00 and from there a move to below 115 will begin.  

March Crude: Resistance is at 68.20 and I think the market is on its way to 62.00 and then to 57.00.

February Gold: A move down to 470 is underway. Resistance today is at 565.

March Silver: Siler made a new high this morning and I think resistance today will be found at 955. I still think that the next big development will be a move down to 760.

Google: I think GOOG will bounce off of resistance at 456 and drop to 408 or so before starting a move to the next upside target at 495.  

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