Monday, November 02, 2015

Guesstimates on November 2, 2015

December S&P E-mini Futures: Today’s range estimate is again 2060-78. Strength above 2078 would negate this estimate and mean that the market is headed for 2094.75 and higher. The move up from the August low will eventually reach new bull market highs.
QQQ:  Upside target is 120.
TNX (ten year note yield): I think that the market yield is headed up to 3.00%.
Euro-US Dollar:  The market is headed lower. Downside target is 0.96 over the coming months.
Dollar-Yen: Support is at 116. The bull market has much further to go over the coming months. 140-45 is my longer term target zone while 127-28 is near term resistance.
December Crude:  Support is 35. Resistance above the market is at 50.
December Gold:  Resistance is 1207. I suspect the bear market in gold may be over.
December Silver: I think the bear market in silver may be over. If so support is at 13.50.
Google: The 760 level is the next upside target. Support remains 620.
Apple:  Temporary resistance is at 118-120 while support is at 98.
Facebook: Support is still at 80. Next resistance is at 110-12.
Twitter: I now think the August low in TWTR at 21 will hold. Twitter is headed for 43.
Alibaba: BABA broke above 75 resistance thus turning the trend up. Upside target is 100.
Visa: I think Visa is headed for 82 and eventually higher than that.

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