December S&P E-mini Futures: Resistance
above the market is at 2642. It still looks like the ES will be trading within
what is likely to be a 60-80 point trading range for the next few weeks. Right
now support is at last week’s 2605 low. Looking ahead into the first quarter of
2018 the market is likely to reach 2860.
QQQ: Short term support is
at 148. I think this average is headed
for 160 before a significant drop develops.
TNX (ten year note yield): If the 10 year yield can stay above the
2.15% level then I think deflationary fears have been put aside and the trend
upward to a 3.00% yield will continue.
Euro-US Dollar: The 118.75 resistance has failed and the
ES is headed for 121.50. Support now is
at 118.00
Dollar-Yen: A bull market is underway. Support is at 108.
Upside target is 126-27 then 136
West Texas Crude Oil: Crude is headed for its next upside
target at 63. Support now is at 54.
Gold: The 1295 level is resistance.
If it fails the ES is likely to continue up to 1390. Downside target is currently
1220.
Silver: Resistance is at 18.50. Silver is headed for 13.00 and below.
Google: Next upside target is 1105. Support is at 990.
Apple: Support still is at 144. Next upside target is
182.
Facebook: Support is at 170 and
the upside target is 200.
Twitter: Support is 18. As long as it holds TWTR is headed for 34-36
with a temporary halt at 25 on the way up.
Alibaba: Support remains at 160. Next upside target is 199.
Visa: Upside target now is 120.
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