December S&P E-mini Futures: Today's range estimate is 1401-1420. Heavy selling in Europe makes me think that the 1420-25 support zone has failed. This in turn means that the market is probably headed for 1300 or so.
QQQ: Downside target is 61.
TNX (ten year note yield): Bond yields are going much higher as the market begins to anticipate stronger economic growth. The first upside yield target for the 10 year is 2.50%.
Euro-US Dollar: The ECB and the Fed are following polices which will move the Euro to 1.40 or higher. Next resistance is 1.3350. Support is at 1.2750.
Dollar-Yen: This market is headed for 75 and lower. At some point the JCB will have to support the yen but this probably won't happen until the 75 level is reached.
December Crude: A close in New York today below 86 would convince me that the trend has turned back down and mean that the market is headed for 70 or below.
GLD – December Gold: I think gold is headed for 2300.
SLV - December Silver: I think silver is headed above 50.00.
Google: Google broke support at 700 yesterday on the earnings news. There are several old tops in the 640-670 range which should be strong support for the next move up to 800 and higher.
Apple: I don't think this break will carry any lower than 610.
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