Wednesday, March 23, 2016

Guesstimates on March 23, 2016

June S&P E-mini Futures: There is support beneath the market at 2026. The ES is on track to move above last year’s 2134 high.
QQQ:  The Q’s are headed for 112 and eventually to 120. Support now is at 101.
TNX (ten year note yield): We probably have seen the low 10 year yield for the year. 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.
May Crude: The 41-42 resistance level in May crude has been reached. I think the next big move will be downward to 24 or so. If I am wrong about this then the next upside target is 48-50.
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 drop to 10.
Alibaba: Now headed back to 86.
Visa: Support is at 70.

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