Guesstimates on December 1, 2016

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.

February Gold:  The drop below 1200 means that gold is headed back to its 1035 low and quite possibly below it.

March 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.