Guesstimates on December 6, 2018

December S&P E-mini Futures: The fast drop past all obvious support levels during the past three days surprised me and I think it is a bearish omen. Even so, the ES is currently stuck in a wide 2603-2818 trading range. Until it escapes this range the longer term trend of the market is unidentifiable.
QQQ: The Q’s dropped back below 167 resistance and now are headed for 150.
TNX (ten year note yield): Support remains at 2.70%. Next upside target is 3.50%. Rising interest rates are good news for the stock market because they signify that confidence in future growth is being restored. This in turn means that investors will try to put the huge supply of central bank liquidity to work in risky assets. This process will drive world wide stock market prices higher.
Euro-US Dollar: Downside target is 103.
Dollar-Yen: A swing up to 117 is likely.
West Texas Crude Oil: A drop visibly below 50 would be likely to continue to 43 and possibly lower.
Gold: The 1250-60 zone is likely to halt the rally and the downside target remains 1125.
Silver: Silver is headed for 12.50 and possibly lower.
Google: I think GOOG is headed above its last top at 1295.
Apple:  AAPL is headed for 160.
Facebook:  FB is likely to hold support at 125.
Twitter: TWTR has reestablished itself above 30 in the face of the tech massacre and is now likely to return to 48
Alibaba: There is a good chance that BABA has made its low in the 130-135 zone. A rally to 175 is underway.
Visa: Support remains at 125.