Thursday, October 11, 2012

Guesstimates on October 11, 2012

December S&P E-mini Futures: Today's range estimate is 1428-1442.  The market should again hold support in the 1420-25 range and then start a move up to above 1468.  The ES is headed much higher over the next few months.
QQQ:  A move to 76 is underway.
TNX (ten year note yield): Bond yields are going much higher as the market begins to anticipate stronger economic growth. The first upside yield target for the 10 year is 2.50%.
Euro-US Dollar: The ECB and the Fed are following polices which will move the Euro to 1.40 or higher. Next resistance is 1.3350. Support is at 1.2750.
Dollar-Yen: This market is headed for 75 and lower. At some point the JCB will have to support the yen but this probably won't happen until the 75 level is reached.
November Crude: The market is now is on its way to the 110-115 zone. Support is at 90-91.
GLD – December Gold:   I think gold is headed for 2300.
SLV - December Silver: I think silver is headed above 50.00.
Google: Google has reached the 750 target and is now at historical highs. Next upside target is 790. Support stands at 700.  
Apple:  Apple broke below 645 support but I don't think this break will carry any lower than 610.

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