Forecasts for the Stock, Bond and Commodity Markets

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Guesstimates on June 30, 8:15 am ET

Posted on June 30, 2008

Spiders - September S&P E-mini Futures: The market bounced off of 1272 support Friday. I still think it is in the process of making a low above the March 1253 low. If I am right about this we soon should see a rally at least to 1305 and more probably to 1320 or so. The bullish divergence in the 10 day moving average of advancing issues disappeared Friday but a similar divergence in the 5 day moving average still persists. 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. ...

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