December S&P E-mini Futures: Today's day session range estimate is 1247-1265. The trend is upward and a rally from 1147.50 which matches the size of the October rally would bring the ES to 1370.
QQQ: Now headed for 63.
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: I suspect that the trend in the Euro is turning upward. A close above 1.3549, last week's high, would convince me of this. In the meantime I am thinking in terms of an upside target of 140.50.
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 1675.
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.
1 comment:
$SPX has a 1,050 (daily) and a 1,040 (weekly) target on the P&F charts, standard settings ... while last week's rally was impressive, I can't shake the fact that explosive rallies like that happen in bear markets. Not saying we can't go higher here for awhile (2-3 mos), but ultimately it will all be in vain, as we have all but consumed our future oxygen supply.
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