Thursday, August 24, 2006

Guesstimates on August 24, 8:50 am ET

September S&P Futures: The reaction ended at the 1291.50 level yesterday and now a move into the 1309-12 zone has begun.

September Bonds: I think will soon reach 110-08 and then break several points.  

September 10 Year Notes: A rally to 107-12 is underway.

Euro-US Dollar: The market has been oscillating around the 128.00 support level and I still think that the next development will be a rally to 130.60.

Dollar-Yen: Support is at 115.80. The yen is on the way  to 119.50. The yen should reach 130 over the next year.

October Crude: Resistance is at 73.50 and I still think we shall see the market break to 68.00 or so before a more substantial rally starts.  

December Gold: I am now short term bullish on gold and expect it to rally into the 665-670 range before the market turns much lower.

September Silver: I am short term bullish on silver and think that a move up to 1350 or so in the cards.  After this rally a drop to below 900 should develop.  

Google:  Support is now at 369 and I think GOOG will soon move above its all time high of 475.  

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