Monday, February 13, 2006

Guesstimates on February 13 , 8:50 am ET

March S&P Futures:  I think the market is now headed for 1320 and if so the 1263 level should be support today. The market should reach the 1350 level in a couple of months.  

March Bonds: Resistance is at 113-08 and the next downside target is at 111-16.  I think the market is on its way into the 107-108 zone.

March 10 Year Notes: Resistance is still at 108-18 while the next support level beneath the market is at 107-10. I think notes will reach 104 or so in a few months.

Cash Eurocurrency: The next downside target is117.90. A drop to 113 and below is underway.    

March Crude: Next downside target is at 59.70. Crude is headed for 55.00.

April Gold: I think a drop of $100 has begun. Resistance today is 561. First minor support on the way down is at 526.

March Silver: I think a drop of $2.00 has started. Resistance today is at 952. Next short term support is at 895.

Google: The Barron’s cover story on GOOG which came out yesterday will provide us with a good test of the market.  I still don’t think this bull market is over and I think we’ll see GOOG hold support at 348, the 3 5/8 multiple of the lowest trade price, 95.96. Once GOOG leaps over resistance at 405 it will be headed for the next upside target at 495.

1 comment:

Anonymous said...

I really enjoy the commentary. Your conviction on a bullish move is well founded. I have stayed short since Jan 27th, but see a nice move higher starting around Thursday. Once again... Thanks for the fine work.