Monday, September 17, 2012

Guesstimates on September 17, 2012

December S&P E-mini Futures: Today's range estimate is 1450-59.  The ES is headed much higher over the next few months. Support beneath the market now is at 1420.
QQQ:  A move to 76 is underway.
TNX (ten year note yield):  The Fed announcement is going to push bond yields much higher as the market begins to anticipate stronger economic growth. The first upside yield target for the 10 year is 2.50% 
Euro-US Dollar: The ECB and the Fed are following polices which will move the Euro to 1.40 or higher. Next resistance is 1.3450.
Dollar-Yen: This market is headed for 75 and lower. The only fly in this bearish ointment is the central bank of Japan. If they decide to support the yen then they implicitly will be embarking on a course parallel to the Fed and that would be very bullish for the Japanese stock market.
November Crude: The market has broken past all resistance level. It now is on its way to the 110-115 zone.
GLD – December Gold:   I think gold is headed for 2300.
SLV - December Silver: I think silver is headed above 50.00.
Google: Google is headed up to 750.
Apple: AAPL  is headed to 690-700.  Support stands at 645.

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