Guesstimates on March 10, 2016

March S&P E-mini Futures: The market is likely to have a hard time moving through the 2007-14 resistance zone. Support now is at 1993 and again at 1976. This morning’s ECB move toward monetary easing strengthens my conviction that the US stock market averages are headed above last year’s high points.

QQQ:  The Q’s are headed for 112 and eventually to 120. Support now is at 101.

TNX (ten year note yield): Stock market prospects are improving. We probably have seen the low 10 year yield for the year. In any case I think that the 10 year yield will reach 3.00% during the next 12 months.  

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. Next downside target is 108.

April Crude: The 24 level is long term support. The market has moved above 35-36 resistance and 40-41 is the next stop.

April Gold:  A new bull market has begun in gold. 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 probably made its low near 92 and is now headed for 134 and possibly higher.

Facebook: Resistance is now 120. Support is 95.

Twitter: Twitter should bounce off of resistance near 24 and then drop to 10.

Alibaba: Now headed back to 86.

Visa: Support is at 70.