Wednesday, January 29, 2014

Guesstimates on January 29, 2014

March S&P E-mini Futures: Today’s range estimate is 1764-1787.  The ES is on its way to 1720.
QQQ:  Downside target is 82.00.
TNX (ten year note yield): I think the market will move to 3.50% over the next few months.
Euro-US Dollar: Unless and until 1.37 is breached on a closing basis I will stick with the 1.33 downside target.
Dollar-Yen: The dollar-yen is headed for 107.00.
February Crude:  I think crude is headed back to 86 and possibly lower than that.
February Gold:  The market is headed to 1030.
March Silver: The market is headed for 13.00.
Google:  Upside target at 1150 has been reached. Some sort of stall is likely here and support now is at 1060.
Apple:  The big drop on earnings news yesterday put AAPL back in sync with the bearish market but the uptrend from its 385 low last April is still intact. Support now is at 485, just above the 200 day moving average. My best guess is that this support level will hold and that AAPL will resume its advance to 600 and higher.  


Mag said...

Your silver call is crazy nuts. It only goes there if all the markets crash.

Declan Fallon said...

@Mag It's a projection, not gospel... Long term trend is bearish. I'm more inclined to think Silver will remain range bound $19.00 - $20.50, but if $19 breaks it could get nasty, quickly.