Note: US equity market will be closed today, Monday, because of the storm. ES trading will be halted at 9:15 am New York time.
December S&P E-mini Futures:
Today's
range estimate is 1388-1404. I think the ES is on the way to 1300 or so.
QQQ: Downside target is 61.
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.
December Crude: I think this market is headed for 70 and
lower.
GLD – December Gold: I think
gold is headed for 2300.
SLV - December Silver: I think silver is
headed above 50.00.
Google: There are several old
tops in the 640-670 range which should be strong support for the next move up
to 800 and higher.
Apple: The downside target is 560. Resistance above
the market is at 638.
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