Monday, December 16, 2013

Guesstimates on December 16, 2013

March S&P E-mini Futures: Today’s range estimate for the March 2014 contract is 1771-1786. A close below 1765 would be very bearish. Unless and until that happens I will be looking for new bull market highs ahead.
QQQ:  Support is at 80. Upside target is 88.
TNX (ten year note yield): I think the market will move to 3.50% over the next few months.
Euro-US Dollar: As long as the Euro holds support at 1.3400 I will stick with my view that it is headed for 1.40-1.42.
Dollar-Yen: The dollar-yen is headed for 107.00.
January Crude:  I think crude is headed back to 86 and possibly lower than that.
February Gold:  The market is headed to 1030.
March Silver: The market is now headed for 13.00.
Google:  Upside target is now 1150 and support beneath the market stands at 970.
Apple:  AAPL has been stalling at the 565 resistance level. Should it be breached the next upside target will be 600.

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