Wednesday, July 26, 2006

Guesstimates on July 26, 8:50 am ET

September S&P Futures: The S&P’s are headed for 1285.  Meantime support is at 1264.  

September Bonds: I don’t think the bonds will reach the 107-02 level an am now looking for a move to 108-20.  The market is in the midst of a move to 110.  

September 10 Year Notes: The development in the notes will be a move to 106-04 and then to 107.

Euro-US Dollar: I  think the euro is about to rally to 127.80 and then to drop below the 123 level.

Dollar-Yen: The yen should complete the third phase of its corrective move by dropping to 115.50. This will be followed by a resumption of the uptrend to the 130 level over the next year.

September Crude: Downside target is 68.00 and resistance above the market is at 75.90.

August Gold: Short term downside target is 580. A drop below 500 has begun. Resistance above the market is at 625.

September Silver: I think silver is on its way below 900. Short term downside target is 980. Resistance above the market is still at 1130.

Google:  Support is at 375 and I think GOOG will soon move above its last high at 455.

No comments: