Monday, April 03, 2006

Guesstimates on April 3, 8:50 am ET

June S&P Futures: I expect the market to hold support at 1304 and then rally to 1328.

June Bonds: The market is headed for its next short term target at 108-16. Resistance is at 109-14.

June 10 Year Notes: The notes are headed down to 105-28. Resistance is at 106-20.

US Dollar -Euro: The market is now headed down to 118.90. After that a move to 125.00 becomes likely.

May Crude: 66.95 is resistance and 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: I think gold has a good shot at 605. Meantime 584 is support.

May Silver: Support at 1140. Upside target is 1205 after which I anticipate a big drop.

: I am convinced that GOOG is on its way to 410 and then to 440 although a move to 495 no longer seems likely. Support is at 377.

1 comment:

Michael said...

Im almost certainly wrong re earlier statement ,(saturday)...that Aust spi wld top Monday...the index did not get too the necessary target to create a t/p square situation (altho we did have an up day & another new hi).
For various reasons i wont go ionto I was reasonably confident the index would get to this level today but it didnt Im wrong ...which means I am probably wrong re Gold & silver too & (looking at what they are doing tonight since our market closed anyway)it appears to be happening now ...the top in the Aust market is not far off now & will almost certainly be this month but i need to watch the upcoming time dates now that this 1 failed....fwiw.