Thursday, September 28, 2006

Guesstimates on September 28, 8:50 am ET

December S&P Futures: The market  has reached the 1350 level. Support today is again at 1340. I think a 20-30 point reaction will begin from 1360 or so. Much higher prices are likely later this year.

December Bonds: Resistance is at 113-12 and the market is likely to drop to 112-00 before resuming its rally. I also think that the market will rally into the 114-115 range before a more substantial drop develops.

December 10 Year Notes: The market has reached resistance near 108-16 but should hold support around 108-00. I think the notes will rally into the 109-110 range before a more substantial drop begins.

Euro-US Dollar: The market has so far held support at 126.80 and as long as it does I shall stick with my 131.50 upside target.

Dollar-Yen: Since the euro-dollar is holding support I have decided to give the yen a little more room on the upside.  So long as the yen holds resistance at 117.60  I shall stick with my downside target of 114.30.

November Crude: Resistance is at 64.00.  I think the market will probably take a peek below 59.00 before an even bigger rally begins. I expect to see crude trading in the 50-55 range sometime during the next 6 months.

December Gold: I think a move below the 500 level is underway. Today resistance is again at 607.

December Silver: Resistance is at 1195. I think the market will soon resume its drop to below 900.

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

1 comment:

Anonymous said...

Hi Carl,
Based on your analysis of EBAY, I assume that you would find names like AAPL, SNDK and NVDA to be more interesting since they have participated in the bull market to date.
Do you have any opinion on any of these?
Thanks much for a enlightening blog.