December S&P E-mini Futures: Today's day session range estimate is 1223-1243. Yesterday's low probably ended the drop from 1289.25. I still think that last week's up move was a genuine upside breakout from the August-October trading range. If the market closes this Friday below 1216 I will reassess this view.
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 is at its historical low but will soon start 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. A New York close this Friday below 1.3800 would probably change my mind about this.
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.
December Crude: The market is now headed for 55-60. Resistance above the market is at 94.
GLD – December Gold: I think gold is headed for 2100.
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.
4 comments:
Dr. Futia, you have been working. Thanks!!!
GM Carl,
If you've now calling for SPX, Google, Apple, Gold, etc to rise instead of fall, why still the forecast for Oil to drop? If the dollar weakens and drives the market higher, wouldn't oil follow the market? just wondering thanks
Looking back to your August 18th "Lindsay update" all appeared to be in order until October arrived.
I'm left wondering...what happened to the entire Lindsay's "Three Peaks and a Domed House" formation. Was it entirely out of" time placement" or does it have no meaning?
I would like your thoughts?
The “riskon”bias seems to remain in place but conviction levels aren’t what they were last week.
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