Monday, April 17, 2006

Guesstimates on April 17 , 8:50 am ET

June S&P Futures: I think that the 1289.25 low will hold and that the initial phase of a rally above 1330 is about to begin.

June Bonds: The bonds should hold support at 106-24 and then rally at least a point or two.

June 10 Year Notes: The notes should hold support at 105-08 and then rally at least to 106-00.

US Dollar -Euro: The market has turned upward without reaching my 119.90 target an is now headed for 123.80 and then 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 moved significantly above the 598 level which is the2 3/8 multiple of the 252 low.  I now expect the market to rally to the 2 5/8 multiple at 661.

May Silver: Silver moved well above 1272 resistance overnight so I now believe that the market is headed for the 4 1/8 multiple of the 351 low which is at 1448.

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

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