Tuesday, April 18, 2006

Guesstimates on April 18 , 8:50 am ET

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

June Bonds: I still think the bonds are likely to drop to 106-24 before a substantial rally starts. Resistance today is at 107-20.

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 is now headed for 123.80 and then to 125.00.

May Crude: The market is headed for 74.30, the 7 5/8 multiple of the all time low at 9.75.

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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