Thursday, April 06, 2006

Guesstimates on April 6 , 9:10 am ET

June S&P Futures: The market is headed up to 1328. Support today is at 1309.    

June Bonds: The market should soon break below 108-00.  Meantime resistance today is again at 109-18.  

June 10 Year Notes: Next downside target is 105-16.  Resistance is at 106-15.

US Dollar -Euro: The market is trading near its January 23 high at 123.25 and has broken above 122.35 resistance decisively. This means that it is headed for 125.00 and any break from here should be hold the 121.50 level.

May Crude: The market broke above 66.95 resistance decisively this morning so I think it will rally to 68.80 before turning lower. The next significant move will be downward to 56.80-57.20. I think that over the next few months the market will drop to 52.00 or lower.

June Gold: Gold is getting close to my 605 target. The next big move will be downward.  

May Silver: The upside target at 1205 was hit early this morning. The next big move from here will be downward.  

Google: I am convinced that GOOG is on its way to 440 although a move to 495 no longer seems likely. Support is at 398.  

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