Tuesday, September 05, 2006

Guesstimates on September 5, 8:50 am ET

September S&P Futures: The 1315 target level has been reached. The next development should be a three phase break to 1291 followed by a move above the 1330 level. Much high prices are likely later this year.

December Bonds: I think the next big move in the bonds will be downward to 106-24.  Resistance is at 111-00.

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

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

Dollar-Yen: The yen broke support near 116.30 but 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 reached the 68.00 target and I think the next significant development will be a rally into the 73-75 zone.

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.

December Silver: I am still short term bullish on silver but the market is getting close to the 1350 upside target.  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.  

No comments: