Tuesday, September 12, 2006

Guesstimates on September 12, 8:50 am ET

December S&P Futures: There is still a good chance that the market will make it into the 1315-1317 zone today before it begins to drop to the 1293 correction target. Much high prices are likely later this year.

December Bonds: I think the bonds are headed downward to 106-24.  Resistance is at 110-28. Short term support is at 109-16.

December 10 Year Notes: The market is headed down to 105. Short term downside target is 106-18. Resistance is at 107-10.

Euro-US Dollar: Resistance is now at 127.60. The market is headed down to 122.50.

Dollar-Yen: The yen should hold the 115.30 level. Next upside target is 119.50. The yen should reach 130 over the next year.

October Crude: The market has been weaker than I expected. The 64.00 level is now support. Ultimately the current drop will carry the market down into the 50-55 range.

December Gold: I think a move below the 500 level is underway.

December Silver: I think the rally from the June low around 945 is complete and that the market is on its way below 900.

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

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