Friday, March 17, 2006

Guesstimates on March 17 , 8:50 am ET

June S&P Futures: The market is on its way into the 1325-28 zone. Support today is  at 1309.

June Bonds: The bonds have reached my 111-16 target and are headed downward from there. I think the market is on its way into the 107-108 zone over the next few months.

June 10 Year Notes: The notes have exceeded resistance at 107-12 by 13 ticks but I think they are headed downward from here. I think notes will reach 104 or so in a few months.

Cash US Dollar -Euro: The market has accelerated past 121.10 so I think it is headed up to 125.00.

May Crude: The upside target for this rally is now 66.20. I still think that over the next few months the market will drop to 52.00 or lower.

April Gold: I now think gold is headed for 598 or so after having completed a three phase drop to 534.

May Silver: I now think that silver is headed  for 1095.  

Google: Google should hold 338 and then rally to 358 or higher. I am still convinced that the next significant development will be a rally to 405 and then to 495.

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