Forecasts for the Stock, Bond and Commodity Markets

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Guesstimates on July 1, 8:20 am ET

Posted on July 01, 2008

Spiders - September S&P E-mini Futures: The S&P s will probably drop to 1262 today but the subsequent rally should take the market to 1310 and be the initial leg up to 1500. The 10 and 20 moving averages of NYSE issues are below the low established last March and November while there is currently a bullish divergence in the 5 day moving average. The longer term oscillators shown on the MY CHARTS link on the right hand side of this blog are also showing bullish divergences relative to the low levels reached in March.QQQ: I think the Q s will hold support in the 45-46 range and then begin a ...

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