Wednesday, December 18, 2013

Guesstimates on December 18, 2013

March S&P E-mini Futures: Today’s pre – 2 pm range estimate is 1770-1781. Fed news will come out at 2 pm. 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.

1 comment:

curt said...

I dont see the logic in being bearish crude, it has been resiliant. it maybe range bound but the failed move lower indicates to me that the next push will likely be higher not lower if and when it breaks the range