Monday, May 01, 2006

Guesstimates on May 1, 8:50 am ET

June S&P Futures: Today support is again at 1309 and I think the market is now on its way to 1350.

June Bonds: I think the bonds made a higher low on Friday and now will rally to 107-24.

June 10 Year Notes: The notes made a higher low Friday and now will rally to 106-00.  

Euro-US Dollar: The market has moved past my 125.20 upside target but will probably stall near 126.50. The next big move should carry from here to below 116.

Dollar-Yen: The market is getting close to my downside target at the 112.50 level. The next big move in the dollar-yen will be upward.  

June Crude: The  upside target at the 74.30 level, the 7 5/8 multiple of the all time low at 9.75, has been reached and I think the market is on its way below $60.

June Gold: The market took out its 649 high but the 661 level is strong resistance as the 2 5/8 multiple of the 252 low. Resistance today is at 669.

May Silver: Silver resumed its rally Friday but I think that the 1400 level will prove to be strong resistance. I also think that the next big move will be downward to 920.

Google: Support is at 418 and I expect continuation up to 495 over the next few weeks.  

3 comments:

Anonymous said...

could you elaborate on why you think 116.00 should be the next LT target for $/Euro .

Anonymous said...

could you elaborate on why you think 116.00 should be the next LT target for $/Euro .

Anonymous said...

Good Morning Carl:

I respect your market guestimates and opinion. Was wondering about BOT; it has gone down below support around 108.do you still think it could bounce back and reach your bull market target? thanks.

p.s. sorry, i am putting anonymous since i don't have a blog id.