Guesstimates on December 9, 2010

December S&P E-mini Futures: Today's range estimate is 1225-1238. I think the short term trend is upward. Next upside target is 1250. The market is on its way to 1300 over the next few months.

QQQQ: Next upside target is 55.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think the euro will be supported near 130 and from there will move up to 145.00.

Dollar-Yen: A drop into the 78.00 - 79.00 range is underway and I think an important low will form in that zone.

January Crude: I still think crude oil is headed for 50.00.

GLD – December Gold: A move to new highs is underway. 1450 is the next upside target.

SLV - December Silver: A move to new highs is underway. 31.00 is the upside target.

Google: The 540 level is 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 265.