December S&P E-mini Futures: Today’s day session range estimate is 1755-66.
The market reached the lower edge of the 1775-1800 target zone but so far there
has been no follow through to the brief selling squall which followed the Fed
news. This is bullish and reinforces my
assessment that the market 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: Upside target is
now 1150 and support beneath the market stands at 960.
Apple: Upside
target is 565.
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