Tuesday, April 11, 2006

Guesstimates on April 11, 8:50 am ET

June S&P Futures: The market should reach support at 1296 soon and then rally to new highs.

June Bonds: The bonds should rally to at least 108-16.

June 10 Year Notes: The notes should rally to 106-08.

US Dollar -Euro: The market should rally to 122.10. At the moment I can’t decide whether this will be the start of a move up to 125.00 or just the second phase of a three phase correction from 123.31.

May Crude
: The market has moved a bit past resistance at 68.60 but the next significant move will be downward to 56.80-57.20. I think that over the next few months the market will drop to 52.00 or lower.

June Gold
: Gold has reached my 605 target. The next big move will be downward.

May Silver: Silver traded as high as 1301 overnight but I think that resistance at 1272 will hold and that a big break lies just ahead.

: GOOG is on its way to 440 and I now believe that continuation up to 495 is also likely.

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