December S&P E-mini Futures: Today’s range estimate is 1913-1940.
While I think the ES will drop below last week’s 1918 low today I also believe it won’t spend much time below there before a 50 point rally starts.
QQQ: Downside target is 94.
TNX (ten year note yield): I think the 2.25% yield will be strong support and an extended uptrend in yields is likely to start from there. The initial target is 3.00% but I think the 10 year yield will go significantly higher than that over the coming months.
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: Resistance above the market is at 95. I expect the market to move below 90 at least to 84.
December Gold: Gold is headed below 1100.
December Silver: My bear market target remains 13.00.
Google: GOOGL is headed for 650 and higher.
Apple: I think AAPL is headed for 108.
Facebook: Upside target is 90.
Twitter: Upside target is 66.
Alibaba: Resistance is at 103 but I think that BABA will drop back to or below its IPO price of 68 before going much higher than 103.
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.