December S&P E-mini Futures:
Today's
day session range estimate is 1416-1430. 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
yesterday's 519 low makes it likely that
the break is over and that AAPL is now headed above 600.
3 comments:
As this beginner trader said before, you can keep looking for new highs (by goal-shifting your Lindsey patterns or whatever) or new lows (while claiming to be a contrarian), but, until the cliff is resolved, /ES and the rest aren't going anywhere anytime, so have fun with your "daily ranges".
rg,
You must have a crystal ball, eh? The market's just not gonna go anywhere until the cliff is resolved. Okay, so how do you explain the market's move up since the 11/16 low? Did the cliff not exist on 11/16? How about on the 17th, 18th, 19th... you get the idea.
As long as the chairsatan keeps meddling with the market, investors will continue to abandon the market in hordes.
There is a limit to the Satan's continued printing and an irresponsible goberment's continued wasting of national resources by taking on more and more debt. That limit will reach sooner or later. And the Satan will no longer be able to artificially inflate the market. This has already become quite clear to most investors.
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