Guesstimates on February 29, 2016

March S&P E-mini Futures: The ES held support near 1927 overnight and now is on its way back to 1968. If the market established itself above 1968 I will abandon my longer term bearish views.

QQQ:  Support in the Q’s is 94-95 and resistance is at 104.

TNX (ten year note yield): While I still think that the market yield will reach 3.00% during the next 12 months it is likely that a historical low near 1.30% will be reached first.  

Euro-US Dollar:  The market is headed lower. Downside target is 0.96 over the coming months.

Dollar-Yen: Support at 116 has failed. It looks like a new bear market has started which has bearish implications for world and for Japanese stock markets. Next downside target is 108.

April Crude: The 24 level is long term support.

April Gold:  a new bull market has begun in gold. The market bounced off of 1260 resistance. Support is at 1175 and the next upside target is 1315.

May Silver: I think the bear market in silver is over. Resistance is at 16.25.

Google: Support is 675.

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

Facebook: Resistance is now 120. Support is 95.

Twitter: Twitter is probably headed for 10.

Alibaba: Resistance is at 75 and next downside target is 57.

Visa: Support is at 70.

Guesstimates on February 26, 2016

March S&P E-mini Futures: Stimulated by the rally in crude oil the ES has reached the 1968 midpoint of the drop from the May 2015 top to its February low point. I think the market is about to drop substantially, But if instead the ES establishes itself above 1968 the longer term picture will become much more bullish and I would then have to abandon my “down to 1727 scenario).

QQQ:  Support in the Q’s is 94-95 and resistance is at 104.

TNX (ten year note yield): While I still think that the market yield will reach 3.00% during the next 12 months it is likely that a historical low near 1.30% will be reached first.  

Euro-US Dollar:  The market is headed lower. Downside target is 0.96 over the coming months.

Dollar-Yen: Support at 116 has failed. It looks like a new bear market has started which has bearish implications for world and for Japanese stock markets. Next downside target is 108.

April Crude: The 24 level is long term support.

April Gold:  a new bull market has begun in gold. The market bounced off of 1260 resistance. Support is at 1175 and the next upside target is 1315.

March Silver: I think the bear market in silver is over. Resistance is at 16.25.

Google: Support is 675.

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

Facebook: Resistance is now 120. Support is 95.

Twitter: Twitter is probably headed for 10.

Alibaba: Resistance is at 75 and next downside target is 57.

Visa: Support is at 70.

Guesstimates on February 25, 2016

March S&P E-mini Futures: Today support stands at 1915, the midpoint thus far of the rally from yesterday’s low at 1886.75. Upside target is 1952. I think the ES will ultimately drop into the 1700-50 zone.

QQQ:  Support in the Q’s is 94-95 and resistance is at 104.

TNX (ten year note yield): While I still think that the market yield will reach 3.00% during the next 12 months it is likely that a historical low near 1.30% will be reached first.  

Euro-US Dollar:  The market is headed lower. Downside target is 0.96 over the coming months.

Dollar-Yen: Support at 116 has failed. It looks like a new bear market has started which has bearish implications for world and for Japanese stock markets. Next downside target is 108.

April Crude: The 24 level is long term support.

April Gold:  a new bull market has begun in gold. The market bounced off of 1260 resistance. Support is at 1175 and the next upside target is 1315.

March Silver: I think the bear market in silver is over. Resistance is at 16.25.

Google: Support is 675.

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

Facebook: Resistance is now 120. Support is 95.

Twitter: Twitter is probably headed for 10.

Alibaba: Resistance is at 75 and next downside target is 57.

Visa: Support is at 70.