December S&P E-mini Futures: Today’s day session range estimate for the December contract is 1687-1700. 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 has spent one day trading below its 50 day moving average which current stands at 105.05. If the market spends another trading entirely below this moving average I will turn bearish.
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.