December S&P E-mini Futures:
Today's
range estimate is 1446-1457. The market has held support in the 1420-25 range and
this means that the market is on its way up to 1480-90. But the ES is in a
danger zone. Should support in the 1420-25 range fail a substantial decline
will begin.
QQQ: The QQQ is in a danger zone and I will key off
the action of the S&P to determine if the up trend has been reversed.
TNX (ten year note
yield):
Bond yields are going 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 1.3350. Support is at 1.2750.
Dollar-Yen: This market is headed
for 75 and lower. At some point the JCB will have to support the yen but this
probably won't happen until the 75 level is reached.
November Crude: The market is now is
on its way to the 110-115 zone. Support is at 90-91.
GLD – December Gold: I think
gold is headed for 2300.
SLV - December Silver: I think silver is
headed above 50.00.
Google: Google has reached. Next upside target is 790. Support stands at
700.
Apple: Apple broke below 645 support but I don't
think this break will carry any lower than 610.
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