Thursday, February 23, 2017

Guesstimates on February 23, 2017



March S&P E-mini Futures: A move above 2365 is likely to continue to 2375. Meantime support is at 2351 and 2345. Still higher prices lie ahead in 2017 with the next upside target at 2412.
QQQ:  The March 2000 top at 120.50 is longer term support. Next upside target is 132. Short term support is at 126.00.This average should move generally higher in 2017.
TNX (ten year note yield): Support in the 10 year note yield is at 2.25%. Next upside targets will be 2.85%  and then 3.40%. The 10 year yield is well above its 200 day moving average which suggests that a sustained rise in yields is underway. I think this paradoxically is a very bullish omen for world stock markets.
Euro-US Dollar: The ECB’s QE policy will ultimately drop the Euro below par.
Dollar-Yen: A new bull market is underway. Support now is at 111-12. Upside target is 126-27 then 136
West Texas Crude Oil: Crude is in a bull market. The 56-58 upside target has nearly been reached. Support remains at 45, Next upside target is 62.
April Gold:  Gold is headed back to its 1035 low and quite possibly lower. Meantime resistance is at 1260.
May Silver: Silver is headed for 13.00 and below.
Google: Support is 675. Upside target is 880.
Apple:  I still think the bull market in APPL is intact. AAPL is on its way to 145.
Facebook: Support at 120. Next upside target is 145.
Twitter: Breakout resistance at 20 is likely to stop any rally. TWTR is headed for 10.00.
Alibaba: The 85-90 zone is strong support and I expect BABA to swing up to 125.
Visa: Support is at 70. Upside target is 90-95.

Wednesday, February 22, 2017

Guesstimates on February 22, 2017



March S&P E-mini Futures: Support is at 2351 and 2345. A move above 2365 is likely to continue to 2375. Still higher prices lie ahead in 2017 with the next upside target at 2412.
QQQ:  The March 2000 top at 120.50 is longer term support. Next upside target is 132. Meantime short term support is at 126.00.This average should move generally higher in 2017.
TNX (ten year note yield): Support in the 10 year note yield is at 2.25%. Next upside targets will be 2.85%  and then 3.40%. The 10 year yield is well above its 200 day moving average which suggests that a sustained rise in yields is underway. I think this paradoxically is a very bullish omen for world stock markets.
Euro-US Dollar: The ECB’s QE policy will ultimately drop the Euro below par.
Dollar-Yen: A new bull market is underway. Support now is at 111-12. Upside target is 126-27 then 136
West Texas Crude Oil: Crude is in a bull market. The 56-58 upside target has nearly been reached. Support remains at 45, Next upside target is 62.
April Gold:  Gold is headed back to its 1035 low and quite possibly lower. Meantime resistance is at 1260.
May Silver: Silver is headed for 13.00 and below.
Google: Support is 675. Upside target is 880.
Apple:  I still think the bull market in APPL is intact. If it is AAPL is on its way to 135 and then to 145.
Facebook: Support at 112. Next upside target is 145.
Twitter: Breakout resistance at 20 is likely to stop any rally. TWTR is headed for 10.00.
Alibaba: The 85-90 zone is strong support and I expect BABA to swing up to 125.
Visa: Support is at 70. Upside target is 90-95.

Tuesday, February 21, 2017

Guesstimates on February 21, 2017



March S&P E-mini Futures: The ES is likely to reach 2361 resistance and then drop 15-20 points. Still higher prices lie ahead in 2017 with the next upside target at 2412.
QQQ:  The March 2000 top at 120.50 is longer term support. Next upside target is 132. Meantime short term support is at 124.00.This average should move generally higher in 2017.
TNX (ten year note yield): Support in the 10 year note yield is at 2.25%. Next upside targets will be 2.85%  and then 3.40%. The 10 year yield is well above its 200 day moving average which suggests that a sustained rise in yields is underway. I think this paradoxically is a very bullish omen for world stock markets.
Euro-US Dollar: The ECB’s QE policy will ultimately drop the Euro below par.
Dollar-Yen: A new bull market is underway. Support now is at 111-12. Upside target is 126-27 then 136
West Texas Crude Oil: Crude is in a bull market. The 56-58 upside target has nearly been reached. Support remains at 45, Next upside target is 62.
April Gold:  Gold is headed back to its 1035 low and quite possibly lower. Meantime resistance is at 1260.
March Silver: Silver is headed for 13.00 and below.
Google: Support is 675. Upside target is 880.
Apple:  I still think the bull market in APPL is intact. If it is AAPL is on its way to 135 and then to 145.
Facebook: Support at 112. Next upside target is 145.
Twitter: Breakout resistance at 20 is likely to stop any rally. TWTR is headed for 10.00.
Alibaba: The 85-90 zone is strong support and I expect BABA to swing up to 125.
Visa: Support is at 70. Upside target is 90-95.