Wednesday, April 12, 2006

Guesstimates on April 12 , 8:50 am ET

June S&P Futures: The market dropped about 6 points below support at 1296 yesterday but I expect a bullish day today which will be the initial phase of a rally above 1330.

June Bonds: The bonds have reached minor resistance near 108-16 but after some hesitation the market should continue up to 109-08.  

June 10 Year Notes: The notes should rally to 106-16.

US Dollar -Euro: The market never made it to 122.10 and is now in the third phase of its correction from 123.31. I am expecting a low near 119.90 and then a move up to 125.00.

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

Google: GOOG is on its way to 440 and I now believe that continuation up to 495 is also likely. Support is at 402.

No comments: