March S&P E-mini Futures: Today’s range estimate is 2020-2040. I
think the market has started a move which will carry to new bull market highs.
QQQ: Support is at 99.00. The next step up should carry to 107.00
TNX (ten year note yield): I think the current flight to quality has
dropped the note yield to 1.70% so far. I think the yield will not go below the
historical low at 1.39% and estimate that the market will hold support at
1.60%.
Euro-US Dollar: The Swiss news dropped the Euro below
1.16 but I think that will be it on the downside for a while. Longer term I
expect the Euro to drop below 1.00.
Dollar-Yen: Support is at 116. The bull market has
much further to go over the coming months. 140-45 is my longer term target
zone.
March Crude: The
longer term trend in oil prices is downward and should carry this market down close
to the 2008 low at 33. Resistance above the market is at 55.
February Gold: Resistance
at 1275 has been broken. Gold is headed up to 1350. I remain long term bearish
with 1040 my initial downside target and 850 a longer term target.
March Silver: My bear market target remains 13.00. Resistance
is now at 18.40.
Google: GOOGL is in a long
term down trend which is likely to carry it to 400 and possibly to 300. Resistance
above the market is at 540.
Apple: There
is no reason for thinking the bull market is over. Next stop is 125. Support
stands at 96.
Facebook: Upside target is 90. Support is 72.
Twitter: Support at 40 has been decisively broken. Twitter is in a
bear market which is likely to carry it to 20.
Alibaba: Next upside target is 135. Support is at 98.
Visa: Visa is headed up to 290. Support is at 250.
1 comment:
Hi Carl,
As a contrarian I am sure you noted Economist's cover highlighting barrels of oil indicating oversupply and title of "Falling oil prices", even though the crux of the article itself was about energy reform.
I wonder if you have a comment on that. I am curious given you have not changed your bearish outlook on oil. Thanks a ton.
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