December S&P E-mini Futures: Today’s day session range estimate is 1760-75.
The market has reached the lower edge of the 1775-1800 target zone but shows no
sign of a top yet. Only a drop below the 50 day moving average by two of my
three trend indicators (Dow, S&P 500, and the advance-decline line) would
turn me bearish.
QQQ: The Q’s have been
much stronger than the other averages. Support is at 75. Upside target is still
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.
December Crude: I
think crude is headed back to 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: It now appears that
the breakout above the 928 high of the preceding 5 month trading range is
genuine. Upside target is now 1150 and support beneath the market stands at
960. .
Apple: AAPL
finally moved above its August top of 513. Upside target is 565.
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