Monday, March 17, 2014

Guesstimates on March 17, 2014

March S&P E-mini Futures: Today’s range estimate is 1832-46.  The market is in the early stages of a 100-150 point drop and I will stick with this view as long as the ES stays below the midpoint of the drop which currently is at 1852.
QQQ:  Downside target is 86.
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 headed up to 1.43.
Dollar-Yen: The dollar-yen is headed for 107.00.
April Crude:  I now think the rally above the 102-03 level was just the last gasp upward prior to a more substantial decline. Downside target is 92 but I think that may well be only the first stopping point in a bigger decline.
April Gold:  The market is headed above 1400.
March Silver: A move as high as 26.00 is underway.
Google:  Google stopped at 1234, shy of my 1250 target, and now appears to be on its way down to support near 1090.
Apple:  The downtrend in the general market is likely to carry AAPL substantially lower. A drop below its 200 day moving average, currently at 492, would be very bearish.  

1 comment:

Unknown said...

- if the market is going higher, the trend is higher.
- if the market is going lower, the trend is lower.
- if the market is fluctuating, it can either go up or down.

Not sure how one can trade this, unless it is an intra-day trade for which this forecast is not helpful.