Wednesday, January 08, 2014

Guesstimates on January 8, 2014

March S&P E-mini Futures: Today’s range estimate is 18 29-39. The ES is currently trading above Friday’s close and broke above 1830 resistance yesterday. The ES is headed above 1846. Short term fluctuations aside the ES should reach 1900 over the next several weeks.
QQQ:  Upside target was 88 and has been reached but continuation up to 92 is likely.
TNX (ten year note yield): I think the market will move to 3.50% over the next few months.
Euro-US Dollar: The euro is trying to regain the 1.36 support level. A New York close above 1.37 would turn me bullish again for a move above 1.40. But 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 is 1150 and support beneath the market stands at 1030.
Apple:  AAPL is now probably headed for 600-610.

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