December S&P E-mini Futures:
Today's
day session range estimate is 1340-57. I am sticking with my 1310-20 downside
target.
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. I now estimate support is at 1.2630. Any
significant break of that level would cast serious doubt on my up-to-1.40
scenario.
Dollar-Yen: The move in the dollar-yen
above 81.00 is a wide range, upside breakout from a trading range which has
developed during the past three months. I think it means that the yen is now
headed for 85-86.
December Crude: I think this market is headed for 70 and
lower.
GLD – December Gold: Gold's
drop has exceed the size of the biggest break on the way up from its 1530 low.
I think this means that the market is headed back to 1530 and possibly lower.
SLV - December Silver: I think silver is
headed below 26.00.
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: APPL has reached the 525 downside target but
the broader market shows no sign of turning around. Next stop is 505.
No comments:
Post a Comment