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:
Post a Comment