Monday, March 14, 2016

Guesstimates on March 14, 2016

June S&P E-mini Futures: The ES has run into resistance at 2014. Before the market goes much above that level a drop of between 35 and 57 points is likely. In any event I think the ES will rise above last year’s high during the coming months.
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.

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