December S&P E-mini Futures: Today’s range estimate is 1999-2019. I
think the market will stall at current levels and drop at least 20-25 points
and probably closer to 50 points. But once this reaction is complete the ES
should resume its advance to the 2090 target.
QQQ: Upside target is 102.
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 120.
Dollar-Yen: The 112 level has nearly been hit and
exceeded. I think the dollar-yen will
stall here for several weeks. But if the market spends a couple of days above
113 I think it will continue upward to 120.
December 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. Resistance is at
1260.
December Silver: My bear market target remains 13.00.
Google: GOOGL is headed for 650.
Support is at 520.
Apple: AAPL
has reached the 108 target but 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: BABA is headed for 116.
Visa: Visa so far has held its gains on earnings news and I now
believe it is headed up to 270.
No comments:
Post a Comment