Guesstimates on January 20, 2016

March S&P E-mini Futures: Today’s range estimate is 1813-1855. The ES dropped two points below its August 2015 low of 1831 early this morning. The October 2014 low sits at 1813. I think a slight extension of the overnight drop is likely but then will probably be followed by a rally of 90-100 points.

QQQ:  Downside target is 96.

TNX (ten year note yield): I think that the market yield is headed up to 3.00%.

Euro-US Dollar:  The market is 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.

March Crude:  Crude has slipped a below the 30 level but I don’t think the market will spend much time below 30 before beginning a rally of $10 or so.

February Gold:  The odds favor continuation down to 1030.

March Silver: I think the bear market in silver may be over. If so support is at 13.50.

Google: Support is 680.

Apple:  APPL has dropped below 100 so 90 is the likely next stop.

Facebook: Resistance is at 110-12. Support is 95.

Twitter: Twitter has dropped below 19 and is probably headed for 10.

Alibaba: Support at 75 has been broken so BABA is headed for 65.

Visa: Support is at 70.