Tuesday, April 25, 2006

Guesstimates on April 25 , 8:50 am ET

June S&P Futures: Support today is again at 1312 and I think that the market will soon be trading above 1330.

June Bonds: The bonds are headed down to 107-00 in the second phase of a three phase rally which will soon carry the market up to 108-12.

June 10 Year Notes: The notes are headed back to support at 105-16 and from there will rally to 106-12.

US Dollar -Euro: The market is on the way to the next upside target at 125.20.

June Crude: The  upside target at the 74.30 level, the 7 5/8 multiple of the all time low at 9.75, has been reached and I think the market is about to drop substantially along with gold and silver.

June Gold: I looks like gold made its high at 649 and now is in the early stage of a drop to the 2 1/8 multiple of the 252 low which stands at 535.

May Silver: Silver dropped to 1169 shortly after yesterday’s pit close but is now in the third phase of a rally that will carry to 1350. After that I expect to see the market to drop to around 920 in  a few weeks.

Google: Support is at 420 and I expect continuation up to 495 over the next few weeks.  

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