Friday, September 22, 2006

Guesstimates on September 22, 8:50 am ET

December S&P Futures: I think that yesterday’s low at 1325.50 will be support.  The next step up should carry to 1345. Much high prices are likely later this year.

December Bonds: Late yesterday I changed my mind about the bonds and said that they were headed for 112-23, the top of the current box.  Support is near the midpoint of the same box at 112-00.

December 10 Year Notes: The market should now reach 108-16 before any reaction of a point or more begins. .

Euro-US Dollar: The market has decisively broken above resistance at 127.60.  I think this means that the trend has turned upward and that it is now headed for 131.50.  

Dollar-Yen: The yen has broken below 116.40 support and this means that it is headed down to 114.30.

November Crude: The market is headed for 58.80 with resistance above the market at 65.00. 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. Today resistance is again at 602.

December Silver: I think the market is on its way below 900. Today resistance is at 1150.

Google:  Support is at 394 and I think GOOG will soon move above its all time high of 475.  

1 comment:

Anonymous said...

Is the 3 peaks and a domed house
formation on the dow still valid?