December S&P E-mini Futures: Resistance is now at 2102 and as long as
it holds the ES will continue downward to its Brexit low of 1981. If it fails a
rally of between 36 and 42 points will probably be underway. Once it ends the
drop to 1981 should resume.
QQQ: The 120 level is
resistance but support at 117 has failed and that means the Q’s are headed
for108-110.
TNX (ten year note yield): I think a substantial advance in yields is
underway which should push the 10 year yield up to 2.50% or so.
Euro-US Dollar: I still think that the ECB’s QE policy
will ultimately drop the Euro below par.
Dollar-Yen: A bear market is underway. Resistance is 104-106.
Next downside target is 95.
December Crude: Crude is in a bull market. Support at 40-41.
Next upside target is 56-58.
December Gold: A
bull market is underway in gold. Support is now at 1240. A drop visibly below
1240 would be long term bearish. Failing that the next upside target is 1420.
December Silver: Next upside target is 25.00. Support at
18.00 has failed but there is a secondary level at 17.00. If this fails too the
longer term picture will become bearish.
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 is at 120. Next upside target is 145.
Twitter: Breakout support at 20 has failed and this means that TWTR is
headed for 10.00.
Alibaba: Support is now at 98. Next upside target is 125.
Visa: Support is at 70. Upside target is 90-95.
No comments:
Post a Comment