December S&P E-mini Futures:
Today's
day session range estimate is 1414-1428. A move to 1468 and higher is underway.
QQQ: Upside target is 70 then 74..
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 an 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.
January Crude: I think this market is headed for 70 and
lower.
GLD – February Gold: Gold
has rallied past and closed well above the midpoint of the recent $130 drop so
I conclude that the trend is back up. This means that the market is headed for
2000 and higher.
SLV - March Silver: Silver has been even
stronger than gold and has closed above the midpoint of its recent drop. I think
silver is now headed for $40.
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 moved above 575-80 resistance. New
bull market highs above 705 lie ahead. Meantime support is at 545.
1 comment:
When the market is moved by random, meaningless comments; when no "deal" can possibly cure the atrocious, over-spending habits of the goberment, even angels would dread treading the path of this so called "market", much less guessing its short-term moves!
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