December S&P E-mini Futures: Today’s range estimate is 2026-2042. If the ES starts spending time below 2020 today I will conclude that a drop of about 50 points has begun. In any case the market is headed for my 2090 target.
QQQ: Upside target at 102 has been reached. Support is at 99.50 and the next step up should carry to 107.00
TNX (ten year note yield): I think that a move to and above the 3.00% level is underway.
Euro-US Dollar: The ECB quantitative easing program coupled with the Fed’s termination of its own program is likely to drop to Euro to 120.
Dollar-Yen: The dollar-yen is headed for 120.
December Crude: I think the longer term trend in oil prices is downward and should carry the market down to 70 or below.
December Gold: Gold is headed below 1100 with 1040 my initial downside target and 850 a longer term target.
December Silver: My bear market target remains 13.00.
Google: GOOGL is headed for 650. Support is at 520.
Apple: There is no reason for thinking the bull market is over. Next stop is 125. Support stands at 96.
Facebook: Upside target is 90. Support is 72.
Twitter: Upside target is 66. Support is at 40.
Alibaba: BABA has moved past 113. Next upside target is 130.
Visa: Visa is headed up to 270.