Thursday, April 27, 2006

Guesstimates on April 27 , 8:50 am ET

June S&P Futures: Early thus morning the market again dropped below 1308.25 and also took out the 1305 low. I have to believe that this means we are headed for 1288.

June Bonds: The bonds dropped as low as 106-05 early this morning. I think this market is ready to begin a multi-point rally. Support today is 106-02.

June 10 Year Notes: The notes dropped a tad below the 105-00 support level this morning but I think a rally to 106-00 is about to start.

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: It 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 is now in the third phase of a rally that will carry to 1350. After that I expect to see the market drop to around 920 in a few weeks.

Google: Support is at 423 and I expect continuation up to 495 over the next few weeks.

No comments: