December S&P E-mini Futures:
Today's
day session range estimate is 1421-1432. 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. Next upside target is 1.35. Support is at
1.2670.
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: The market is headed for 2000 and higher.
SLV - March Silver: I think silver is
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: I expected this break to end above the 505 low, probably
near 525. The fast rally from Thursday's
519
low makes it likely that the break is over and that AAPL is now headed
above 600.
4 comments:
You need to research gap-fills. The gap today is around 1418 ES. We should fill that gap, then continue on up today.
Hmmm....
Carl says Hmmm ... to a newbie!
Sqroot, there are, once in a while, "gap and go" days; but more so lately due to the Satan playing his market disruptive hand. But your are right, gaps are often filled. However, gaps more than 1% mean that the Satan cannot be stopped, for a day at least.
Okay, I know the year is ending but Kishore your "Carl says Hmmm...to a newbie" ranks as the best comment of the year!
Fiscal Cliff resolved...Anyone beginning to feel like "sell the news?"
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