Monday, January 30, 2006

Guesstimates on January 30 , 8:50 am ET

March S&P Futures:  Support today is at 1280 and I think the market is on its way to 1320. The market should reach the 1350 level in a couple of months.  

March Bonds: The bonds couldn’t rally as far as 113-12 resistance and now I think they are headed for 111-16.  I think the market is on its way into the 107-108 zone.

March 10 Year Notes: The notes didn’t make it to resistance at 109-00 and now I think the market is headed for 107-26. I think notes will reach 104 or so in a few months.

Cash Eurocurrency: The market is headed down to at least 113.  

March Crude: Crude rallied to 68.42 last night but now I think it is headed down to 64.00 and then to 55.00.

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

March Silver: Silver reached the 979 level this morning.  This market has been stronger than I expected but I think the 979-985 zone will mark the start of a move down to 750 or so.

Google: GOOG should hold support near 420 and the next upside target is 495.

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