Thursday, August 27, 2015

Guesstimates on August 27, 2015

September S&P E-mini Futures: Today’s range estimate is 1910-1970. The odds are good that the drop ended at 1831 but I do expect the market to drop down to 1850 or so at least once more before a substantial up swing begins.  
QQQ:  I think there is a very good chance that the drop from 114 ended at Monday’s 84 low.
TNX (ten year note yield): I think that the market yield is headed up to 3.00%.
Euro-US Dollar:  The market hit resistance at 1.17 and is now headed lower. Downside target is 0.96 over the coming months.
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 while 127-28 is near term resistance.
October Crude:  Support is now 35.
December Gold:  Resistance above the market is 1170.
September Silver: I think the bear market in silver may be over. If so support is at 13.50.
Google:  In now think GOOG will hold support at 620 on any break and then resume its bull market.
Apple:  AAPL reached its 95 target and is now headed higher. Temporary resistance is at 112.
Facebook: Support is still at 80.
Twitter: TWTR is headed for 18.
Alibaba: The 55-60 target zone was reached and 75 is now resistance. I think the 50% drop in BABA will now be followed by a move up to 90 or so.
Visa: Support at 63 held and I think Visa is headed higher.

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