September S&P E-mini Futures: The ES spent virtually all of yesterday’s
day session trading above 1660 so I think it is now headed above 1705. Today’s
day session range estimate is 1670-1684.
QQQ: If the market starts
accepting prices below 75 it is headed back down to 69 or lower.
TNX (ten year note yield): I think the market will move to 3.50%
over the next few months.
Euro-US Dollar: The Euro has broken support at 1.3200
and this makes it likely that the market is headed down to 1.2800.
Dollar-Yen: The dollar-yen is headed for 107.00.
October Crude: Crude
has sagged back below 108 but as long as it holds its 50 day moving average at
103.54 I will stick with my 123 upside target.
December Gold: Resistance
stands in the 1425-50 zone. So far the market rally has stopped at 1434. The
market has dropped below 1380 but I want to see it close below 1365 to convince
me that 1380 support has been broken. If this happens a move down to 1200 and
lower will be underway.
December Silver: The market has reached resistance near
24.00 and will probably stall here before the bear market resumes.
Google: Support is at 800 and I think the next step up will carry
GOOG to 975.
Apple: The
460 level is now support and as long as it holds I think AAPL will continue its
rally to 560 or so.
No comments:
Post a Comment