Thursday, September 11, 2014

Guesstimates on September 11, 2014

September S&P E-mini Futures: Today’s range estimate is 1974-1990. I suspect that a drop of 45-50 points is underway but I still think this market is eventually headed for 2080.
QQQ: Upside target is 103.00.  
TNX (ten year note yield): There is strong support near 2.25% and I think the 2014 decline in yields will end near that level. Once it does I expect yields to head well over 3.00%.
Euro-US Dollar: The ECB quantitative easing program coupled with the Fed’s termination of its own program is likely to drop to Euro to 120.
Dollar-Yen: The dollar-yen has nearly reached my 107.00 target. I think that the 107-108 zone will be strong resistance and expect the market to stall here for a while.
October Crude:  Crude has nearly reached my 90 target. After a bounce to 93-94 I expect the market to move below 90.
December Gold:  Gold is headed below 1100.  
December Silver: My bear market target remains 13.00.
Google:  GOOGL is headed for 620 and higher.
Apple:  I think AAPL is headed for 108.

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