Tuesday, November 11, 2014

Guesstimates on November 11, 2014

December S&P E-mini Futures: Today’s range estimate is 2034-2043. The next reaction will probably be 45-50 points but I think it will start from about 2050.  In any case the market is headed for my 2090 target and probably higher than that.
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.


Unknown said...

Hi Carl,
I think I have found a Lindsay Ascending Middle Section on the Dow:

A: 10/9/13
B: 12/31/14
D: 2/5/14
E: 4/4/14
F: 7/17/14
G: 9/19/14
H: 10/15/14

Looks like we're rallying to point J now. If we top out in early-mid 2015, the middle section implies a mild bear market lasting about a year.

The Dow had been perplexing me for a while, but this pattern seems to make sense of it.

Unknown said...

Twitter: Upside target is 66. Support is at 40.
TWTR closed below 40, any changes to your call?