Monday, September 16, 2013

Guesstimates on September 16, 2013

December S&P E-mini Futures: Today’s day session range estimate for the December contract is 1691-1705. The ES, the Dow and the advance-decline line are all now trading above their 50 day moving averages. The trend is definitely upward and should carry the ES well above 1705 during the next couple of months
QQQ:  Upside target is 86.
TNX (ten year note yield): I think the market will move to 3.50% over the next few months.
Euro-US Dollar: The Euro is has shown two closes above its 20 day moving average and today is likely to spend the entire 24 hour session traded above that moving average. If it does I will again move to the bullish side of the market and start looking for a move to 1.4000.  
Dollar-Yen: The dollar-yen is headed for 107.00.
November Crude:  Crude has sagged back below 108 but as long as it holds its 50 day moving average at 104.78 I will stick with my 123 upside target.
December Gold:  The market is now headed below 1200.
December Silver: The market is now headed for 15.00.
Google: Support is at 800 and I think the next step up will carry GOOG to 975.
Apple:  The 460 level is now support and as long as it holds I think AAPL will continue its rally to 560 or so.

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