December S&P E-mini Futures: Today's range estimate is 1152-66. Next upside target is 1175. The ES will move above 1216 over the coming months.
QQQQ: Next upside target is 51.00.
TYX (thirty year bond yield): The thirty year yield has dropped well below long term support at 3.85%. I think the market is at a juncture like that of December 2008 - fast drop in yield that will be followed by a fast rise. The bonds will soon begin a move to 5.40%.
TNX (ten year note yield): The 10 year yield has dropped more than I expected. Still, I think the next big move in yields will be upward. I think that the notes will soon begin a swing up to 4.50%.
Euro-US Dollar: The euro has moved close to the top of its 135-40 target zone. There is as yet no sign of a top so I think the 143 level is easily within reach.
Dollar-Yen: Resistance above the market stands at 86.50. A drop into the 78.00 - 79.00 range is underway and I think an important low will form in that zone.
November Crude: I still think crude oil is headed for 50.00.
GLD – December Gold: Upside target is 1380.
SLV - December Silver: Upside target is 23.80.
Google: The 440 level is now support. A move that should take GOOG above 700 is underway.
Apple: Should reach 350 (at least) before the bull market ends. Support is at 240.
1 comment:
Why do you still think oil will go to 50?
It is directly opposite all your other forecasts which are inflationary and expansionary?
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