Monday, September 23, 2013

Guesstimates on September 23, 2013

December S&P E-mini Futures: Today’s day session range estimate is 1690-1705. The ES, the Dow and the advance-decline line are all trading above their 50 day moving averages. The trend is definitely upward and is likely to carry the ES to 1775 or higher 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 headed for 1.4000.
Dollar-Yen: The dollar-yen is headed for 107.00.
November Crude:  Crude is trading at its 50 day moving average which current stands at 105.05. If the market spends a couple of days trading entirely below this moving average I will turn bearish but in the meantime I am sticking 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 midpoint of the rally to 513 stands at 450. A close below 450 would mean that AAPL is headed below 385. In the meantime I will maintain my bullish stance.

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