December S&P E-mini Futures: Today's day session range estimate is 1250-1270. I now think that the market will hold above last week's low at 1218 and soon will begin a move above the 1300 level, thus resolving the trading range of the past two weeks with an upside breakout. There has already been a genuine upside breakout from the August-October trading range and this means that the market is headed for 1450 and higher over the coming months.
QQQ: Now headed for 68.
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 has started a move to 4.50%.
Euro-US Dollar: Support is at 1.3500. I still think the trend in the Euro has turned up and that the market is headed for 1.5000.
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.
December Crude: Resistance above the market at 94 has been taken out. I think this means that a more extended upswing is underway. It will probably take crude back to 114 or so.
GLD – December Gold: I think gold is headed for 2100. Short term support is at 1710.
SLV - December Silver: I think silver is headed for 50.00.
Google: Google is now headed for its 2007 top near 750.
Apple: Upside target is now 475.