December S&P E-mini Futures: Today’s day session range estimate for the December contract is 1681-194. The ES, the Dow and the advance-decline line are all still trading above their 50 day moving averages. As long as this remains true the trend is definitely upward and will likely 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 two consecutive days trading entirelyh below its 50 day moving average and in the process has put in the biggest break since the April 2013 low. I now think crude is headed back to that low at 86 and possibly lower than that.
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.