December S&P E-mini Futures: A swing up to 2238 and higher is
underway. Support remains in the 2185-91 zone.
QQQ: The 120 level is still resistance
but I expect to see the Q’s trade up to 125 at least.
TNX (ten year note yield): The initial 2.50% target is within reach.
However I think a push up into the 2.85-3.00 zone is likely before the longer term up trend in yields pauses. The
10 year yield is now well above its 200 day moving average which suggests that
a sustained rise in yields is underway. I think this paradoxically is a very bullish
omen for world stock markets.
Euro-US Dollar: The ECB’s QE policy will ultimately drop
the Euro below par.
Dollar-Yen: A new bull market is underway. Support now
is at 106 and as long as the dollar-yen hold 103 I will stay longer term
bullish and look for a move back to
1.26-1.27 or higher.
January Crude: Crude is in a bull market. Support is
still at 40-41. Next upside target is 56-58.
December Gold: The drop
below 1200 means that gold is headed back to its 1035 low and quite possibly
below it.
December Silver: The support level at 17.00 has failed.
Silver is headed for 13.00 and below.
Google: Support is 675. Upside target is 880.
Apple: I
still think the bull market in APPL is intact. If it is AAPL is on its way to
135.
Facebook: Support at 112. Next upside target is 145.
Twitter: Breakout support at 20 is likely to stop the current rally. TWTR
is headed for 10.00.
Alibaba: The 85-90 zone is strong support and I expect BABA to swing
up to 125 from there.
Visa: Support is at 70. Upside target is 90-95.
