Guesstimates on November 18, 2011

December S&P E-mini Futures: Today's day session range estimate is 1216-36. I think there is a good chance that yesterday's 1206.50 low will hold and that the market is on its way above 1300. The only thing that would cast doubt on my bullish scenario would be a close today below 1208.50. There has 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.

January Crude: An extended upswing is underway. It will probably take crude 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.