Friday, December 15, 2006

Guesstimates on December 15, 8:50 am ET

March S&P Futures: The S&P’s rallied into the 1443-45 resistance zone on the CPI news about 15 minutes ago. There is still no sign of even a 10 point break yet. Support below the market is at 1437 while the next resistance above the market is at 1455.

March Bonds: The bonds rallied on the CPI news right up to resistance at 113-18. I think the market will stall here and head lower.

March 10 Year Notes: The notes rallied on the CPI news but resistance is at 108-30. The market should stall there and then head lower.

Euro-US Dollar
: I think that a move to 116 and lower has begun. Resistance above the market is at 132.00.

Dollar-Yen: I think a move to 121 and ultimately to 130 has begun. Support stands at 117.40.

January Crude: Resistance above the market is at 63.25. I expect crude to drop to 57.50.

February Gold: Gold should rally to 662. Any weakness below 620 would cancel this prognosis and mean that an extended drop has begun.

March Silver: I think silver is headed for 1450-1460. After that I shall be expecting a drop below 940.

Google: Last January’s top at 475 is now support and I expect Google to resume its rally to 564.

1 comment:

Anonymous said...


What were the reasons you used that particular time period in order to compare to the current time period?