Tuesday, March 14, 2006

Guesstimates on March 14 , 8:50 am ET

June S&P Futures: The market is on its way to 1325. Support today is  at 1287.

June Bonds: The bonds are in the second upward phase of their rally and should reach 111-16 soon.  I think the market is on its way into the 107-108 zone over the next few months.

June 10 Year Notes:  Support is still at 106-12 and I think the notes will rally to 107-12 or so over the next few days. I think notes will reach 104 or so in a few months.

Cash Eurocurrency: The next downside target is 116.70 and resistance stands at 120.00. A drop to 113 and below is underway.    

April Crude: Downside target is the 56.80 to 57.20 zone. Resistance today is 62.20. Crude is headed for 52.00 and eventually lower than that.

April Gold: Resistance is at 550 and the market should reach 512 in a week or two.

May Silver: Silver is headed  for 850.  Meantime resistance today is near 1012.

Google: Support today is 335. I am still convinced that the next significant development will be a rally to 405 and then to 495.

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