Wednesday, August 30, 2006

Guesstimates on August 30, 8:50 am ET

September S&P Futures: Support is at 1299. The market will probably rally to 1315 or so, a little above my initial estimate of resistance in the 1309-12 zone. After that a 10-20 point break should develop. Much high prices are likely later this year.

September Bonds
: I think the next big move in the bonds will be downward to 106-24. Resistance is at 110-08.

September 10 Year Notes: The market will soon begin a move down to 105. Resistance is at 107-04.

Euro-US Dollar
: The 127.30 level is now support and I still expect a move to 130.60 before a substantial down move starts.

Dollar-Yen: The yen is on the way to 119.50. Support is at 116.30. 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 still 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 still 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.

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

1 comment:

Anonymous said...

can you update on us on CME pleae sir? thanks