Friday, September 27, 2013

Guesstimates on September 27, 2013

December S&P E-mini Futures: Today’s day session range estimate is 1675-1690. The S&P 500 and the advance-decline line are still trading above their 50 day moving averages while the Dow moved below its moving average yesterday. If the majority of these three indicators trades below their respective moving averages I will turn bearish a look for a move below 1600. In the meantime the trend remains upward and will likely carry the ES to 1775 or higher 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 is headed for 1.4000.
Dollar-Yen: The dollar-yen is headed for 107.00.
November Crude:  Crude has put in the biggest break since the April 2013 low. I think crude is headed back to that low at 86 and possibly lower than that.
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 midpoint of the rally to 513 stands at 450. A close below 450 would mean that AAPL is headed below 385. In the meantime I will maintain my bullish stance.

No comments: