December S&P E-mini Futures: Today’s range estimate is 1840-69. The
S&P 500 and the Dow have dropped below their 200 day moving averages on
very heavy volume. I think this is a very bearish development and supports the
thesis that a bear market has started.
QQQ: Next support is at 90.
TNX (ten year note yield): Given the weak stock market it now
looks likely that 10 year yields will sink to 2.00% before a sustained up trend
can begin.
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: Next stop is 112.
November Crude: I think the longer term trend in oil prices is
downward and should carry the market down to 70 at least.
December Gold: Gold
is headed below 1100.
December Silver: My bear market target remains 13.00.
Google: GOOGL is headed for
650. Support is at 520.
Apple: I
think AAPL is headed for 108. So far AAPL has resisted the drop in the general
market which is a bullish sign.
Facebook: Upside target is 90.
Twitter: Upside target is 66.
Alibaba: I think that BABA will drop back to or
below its IPO price of 68.
Visa: I think the bull market in Visa is over and that the stock
will soon slide below its 200 day moving average and stay there.
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