Monday, November 11, 2013

Guesstimates on November 11, 2013

December S&P E-mini Futures: Friday’s complete retracement of Thursday’s break is bullish action and means that new bull market highs lie ahead. Today’s day session range estimate is 1763-73.
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 broke below 1.3400 yesterday but didn’t close below that level. Resistance above the market is at 1.3500 and as long as the Euro doesn’t spend much time above there I will stick with my 1.28-1.30 downside target
Dollar-Yen: The dollar-yen is headed for 107.00.
December Crude:  I think crude is headed back to 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:  Upside target is now 1150 and support beneath the market stands at 960.
Apple:  Upside target is 565.

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