Tuesday, August 15, 2006

Guesstimates on August 15, 8:50 am ET

September S&P Futures: I think that the correction which began from the 1297.75 level on August 4 ended at 1262.50. The market is now headed for 1309. Support is at 1276.

September Bonds: The 108-04 level is support and I think the bonds have started to rally to 110.

September 10 Year Notes: Support is at 105-28 and a rally to 107-16 is underway.

Euro-US Dollar: The market has started a drop that will take it below 123.00 over the next few weeks. Resistance is now at128.20.  

Dollar-Yen: I think the yen has held 114.30 support and is now on the way  to 119.50. The yen should reach 130 over the next year.

September Crude: Downside target is 68.00 and resistance above the market is at 76.60.

December Gold: I now think that gold has begun an extended drop that will carry it below the 500 level.

September Silver: I think silver has begun an extended drop that will carry it below 900.  

Google:  Support is at 364 and I think GOOG will soon move above its all time high of 475.  

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