Tuesday, February 28, 2006

Guesstimates on February 28 , 8:50 am ET

March S&P Futures:  Support is still at 1285 while the next minor resistance is 1304. The market should reach the 1350 level by late April.  

June Bonds: The next downside target is at 111-16 while resistance today is again at 113-08. I think the market is on its way into the 107-108 zone.

June 10 Year Notes: Resistance is at 108-04 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 is117.20 while resistance is still at 119.80. A drop to 113 and below is underway.    

April Crude: The market is on its way to 57.20 Crude is headed for 52.00 and eventually lower than that.

April Gold: I think a drop of $100 is underway. Resistance today is again at 562. Next support on the way down is at  512.  

March Silver: I think a drop of $2.00 is underway. Resistance today is again at 972. Next short term support is at 860.

Google: Short term resistance above the market is at 405 while support is at 378. Once GOOG leaps over resistance at 405 it will be headed for the next upside target at 495.

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