December S&P E-mini Futures:
Today's
day session range estimate is 1406-1419. 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.
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: APPL has moved above 575-80 resistance. New
bull market highs above 705 lie ahead. Meantime support is at 545.
1 comment:
Carl, I don't know whether we are heading towards 1468 or 1320, but we are surely heading south! But, for how long?
The robots can surely make this "market" jump through hoops.
As Albert Einstein once said, "I fear the day that technology will surpass our human interaction. The world will have a generation of idiots."
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