December S&P E-mini Futures: Resistance is in the 2529-31 zone has
been reached and I think it will stop the ES for at least a couple of weeks.
Support is at 2511 but from 2531 the ES is likely to drop at least once below
2500. In any case the market is likely to reach the 2578 target by the end of
2017.
QQQ: Short term support is
at 136. This average is headed for 150.
TNX (ten year note yield): If the 10 year yield can stay above the
2.15% level then I think deflationary fears have been put aside and the trend
upward to a 3.00% yield will continue.
Euro-US Dollar: Upside target is 122 while support is at
117. I think the rise in the Euro represents an effective tightening in Euro
zone monetary conditions. This is good reason to expect the ECB to continue its
QE policy. If the ECB does not it will drive a nail into the coffin of the 9
year bull market in world stock markets.
Dollar-Yen: A new bull market is underway. Support is
at 108. Upside target is 126-27 then 136
West Texas Crude Oil: Crude is headed back to 55 and support is
at 45.
Gold: Support at 1290 has
failed and gold is headed for the next support level at 1215.
Silver: Resistance is at 18.50. Silver is headed for 13.00 and below.
Google: Upside target at 1010 was nearly reached but the bull market
is still going strong. Next upside target will be 1070. Support is at 900.
Apple: AAPL
reached its 162 target. Support still is at 144. Next upside target is 182.
Facebook: FB got within 2 points of the upside target at 180. I think
FB will have a hard time moving much past that level for a while. Meantime
support is at 160.
Twitter: Resistance at 20 is likely to stop any rally. A move back
above that level would have longer term bullish implications. Until then TWTR
is headed for 10.00.
Alibaba: BABA has reached resistance at 178-80. Support remains at
160. Next upside target is 199.
Visa: V has made it up to and past the 103 target. There is pretty
strong resistance in the 106-08 zone. Support remains in the 89-90 zone.
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