Friday, November 07, 2014

Guesstimates on November 7, 2014

December S&P E-mini Futures: Today’s range estimate is 2026-2044. If it starts spending time below 2026 today I will conclude that it is headed down to 2008 or so before the rally resumes. In any case the market is headed for my 2090 target.
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 120.
Dollar-Yen: The dollar-yen is headed for 120.
December 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 1080 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: BABA has nearly reached 113 but I don’t think the advance is over. Next upside target will be 130.  
Visa: Visa is headed up to 270.

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