Thursday, December 05, 2013

Guesstimates on December 5, 2013

December S&P E-mini Futures: Today’s range estimate is 1780-1794. The 1798 level is resistance and the longer the ES trades below there the more bearish the situation becomes. Nearest support is 1770-75 which was nearly reached yesterday. Failure of this support zone would have very bearish implications.
QQQ:  Support is at 80. Upside target is now 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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