Wednesday, December 09, 2015

Guesstimates on December 9, 2015

December S&P E-mini Futures: Today’s range estimate is 2040-62.  A drop to 2040 likely and continuation down to 1998 is at least an even bet. Even so, I still think new bull market highs lie ahead.
QQQ:  Upside target is 120.
TNX (ten year note yield): I think that the market yield is headed up to 3.00%.
Euro-US Dollar:  The market is headed lower. Downside target is 0.96 over the coming months.
Dollar-Yen: Support is at 116. The bull market has much further to go over the coming months. 140-45 is my longer term target zone while 127-28 is near term resistance.
January Crude:  Support is 35. Resistance above the market is at 50.
February Gold:  The odds favor continuation down to 1030.
March Silver: I think the bear market in silver may be over. If so support is at 13.50.
Google: The 760 level has been reached. Support is now 680 and the next upside target is 815.
Apple:  APPL is headed for 134. Support is at 110.
Facebook: Resistance is at 110-12. Support is 95.
Twitter: I think the August low in TWTR at 21 will hold. Twitter is headed for 43.
Alibaba: Upside target is 100. Support is 75.
Visa: I think Visa is headed for 82 and eventually higher than that.

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