Thursday, July 27, 2006

Guesstimates on July 27, 8:50 am ET

September S&P Futures: The S&P’s are headed for 1285.  Meantime support is at 1268.  

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: This morning the euro traded as high as 127.49 and I still think it has a shot at 127.80.  In any even the next big move from current levels will be downward below 123.

Dollar-Yen: The yen has reached my downside target at 115.50. The next development should be a move up to 120.00. The yen should reach 130 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 635.

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 372 and I think GOOG will soon move above its last high at 455.

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