December S&P E-mini Futures: Today's day session range estimate is 1423-34. The ES looks like it has climbed back above resistance at the 1419.75 level formed by the March 27 top. If it stays there for the rest of the day I will turn bullish and start looking for a rally to new highs for the bull market.
QQQ: Downside target is 61 but the S&P action is casting doubt on this.
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: I think this market is headed for 70 and lower.
GLD – December Gold: I think gold is headed for 2300.
SLV - December Silver: I think silver is headed above 50.00.
Google: 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: The downside target is 560. Resistance above the market is at 638.
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