December S&P E-mini Futures: The ES has dropped to within 10 points of the 3240 near term target but I don’t think the drop from the 3587 is over. A still bigger drop to the vicinity of 3000 is likely. That said, this is still a bull market. The Fed’s QE program is very bullish long term and the Corona Crisis has passed its peak. There will be no more shutdowns. The 2174 low will hold for several years and the ES is likely to trade well above 4000 by the end of 2021.
QQQ: Support is now at 248.
TNX (ten year note yield): There is a good chance that the 0.40% level was the low yield of this nearly 40 year decline in bond yields and that yields will soon start a long march into higher ground.
Euro-US Dollar: A swing up to 125.00 is likely.
Dollar-Yen: Still confined within a 101-115 trading range.
West Texas Crude Oil: A bull market is in progress. Upside target is 44 was reached. Support is now 35. Next upside target is 50-55.
Gold: Upside target is still 2150. Support is 1850.
Silver: Support is 25.00 and next upside target is 31.00.
Google: Support is 1450 then 1350.
Apple: The 110 support level has failed. Next support is90-95.
Amazon: Next upside target is 3700. Support is 2500.
Facebook: 250 has been reached but continuation down to 215 is likely.
Twitter: Upside target 75.
Alibaba: BABA should find support near 250.
Visa: Upside target is 240.