Tuesday, October 15, 2013

Guesstimates on October 15, 2013

December S&P E-mini Futures: Today's day session range estimate is 1695-1710. I think the market is on its way up into the 1775-1800 range. Only a drop below the 50 day moving average by two of my three trend indicators (Dow, S&P 500, and the advance-decline line) would turn me bearish.
QQQ:  The Q’s have been much stronger than the other averages. Support is at 75. Upside target is still 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 put in the biggest break since the April 2013 low. I 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.

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