Thursday, September 12, 2013

Guesstimates on September 12, 2013

September S&P E-mini Futures: Today’s day session range estimate is 1685-95. The ES, the Dow and the advance-decline line are all now trading above their 50 day moving averages. The trend is definitely upward and should carry the ES well above 1705 during the next couple of months
QQQ:  Upside target is 86.
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. The 20 day moving average is at 1.3285 and I’ll stick with this bearish forecast just so long as the market does not trade for two days above this moving average.
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:  The market is now headed below 1200.
December Silver: The market is now headed for 15.00.
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.

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