Friday, February 07, 2014

Guesstimates on February 7, 2014

March S&P E-mini Futures: Today’s range estimate is 1767-88.  If the ES shows strength above 1789.25, the midpoint of the drop from 1846.50 to 1732.00, I will conclude that the market is headed to 1846.50 and higher.  
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:  Support is at 1060. Temporary resistance is at 1185. Next upside target is 1250.
Apple:  The uptrend in AAPL from its 385 low last April is still intact. Support 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.  

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