Wednesday, November 19, 2014

Guesstimates on November 19, 2014

December S&P E-mini Futures: Today’s range estimate is 2043-2054. The next reaction will probably be 45-50 points.  I had thought that this would start from about 2050 and the market reached that level yesterday. But so far there is no sign of concentrated selling and until such selling begins I think the ES will move higher. In any case the market is headed for my 2090 target and probably higher than that.
QQQ: Upside target at 102 has been reached. Support is at 99.50 and the next step up should carry to 107.00
TNX (ten year note yield): I think that a move to and above the 3.00% level is underway.  
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 118-120.
Dollar-Yen: The dollar-yen is headed for 120.
January Crude:   I think the longer term trend in oil prices is downward and should carry the market down to 70 or below.  
December Gold:  Gold is headed below 1100 with 1040 my initial downside target and 850 a longer term target.
December Silver: My bear market target remains 13.00.
Google:  GOOGL is headed for 650. Support is at 520.
Apple:  There is no reason for thinking the bull market is over. Next stop is 125. Support stands at 96.
Facebook: Upside target is 90. Support is 72.
Twitter: Upside target is 66. Support is at 40.
Alibaba: Next upside target is 130.  Support is at 108-110.
Visa: Visa is headed up to 270.

No comments: