Monday, July 24, 2006

Guesstimates on July 24, 8:50 am ET

September S&P Futures: The S&P’s are headed for 1280.  Meantime support is at 1244.  

September Bonds: The bonds are headed for support at 107-02.  After that the next upside target will be 108-20. The market is in the midst of a move to 110.  

September 10 Year Notes: The notes should drop to support near 105-04 and then rally to 106-08 and then to 107.

Euro-US Dollar: The market should complete the second phase of a three phase rally by holding support at 126.10. The third phase should then carry it upward to 127.80. Over the next few weeks I am looking for the market to drop to 123.00 and eventually much lower than that.

Dollar-Yen: The yen should complete the second phase of a three phase correction by holding below 117.10. The third phase will then be a drop to 115.50 which will be followed by a resumption of the uptrend to the 130 level over the next year.

September Crude: Downside target is 68.00.

August Gold: Short term downside target is 580. A drop below 500 has begun.

September Silver: I think silver is on its way below 900. short term downside target is 980.  

Google:  Support is at 377 and I think GOOG will soon move above its last high at 455.


Anonymous said...

hey carl
love you forecasts and am amazed at your accuracy. Been a great help,
happy posting

Anonymous said...

Looks like a nice call on the S&Ps,Carl. I would be interested in learning more about how you construct your "boxes" (I guess they are Darvis boxes). I use metastock, and can't seem to duplicate your projectoions.