Friday, January 08, 2016

Guesstimates on January 8, 2016

March S&P E-mini Futures: Today’s range estimate is 1946-1973. The 1951-58 support zone has failed yesterday so I think the market is headed down to its August low points.
QQQ:  Downside target is 100.
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 while 127-28 is near term resistance.
February Crude:  Support at 35 has failed but I think the 30 level will be a floor underneath the market, at least for several weeks.
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 now 730
Apple:  APPL has dropped below 100 so 90 is the likely next stop.
Facebook: Resistance is at 110-12. Support is 95.
Twitter: The August low in TWTR at 21 has been broken slightly but I don’t think TWTR will spend much if any time below 20.
Alibaba: Upside target is 100. Support is 75.
Visa: I think Visa is headed for 82 and eventually higher than that.

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