Monday, March 07, 2016

Guesstimates on March 7, 2016



March S&P E-mini Futures: Support is in the 1962-68 zone. From there the ES is likely to move to 2014. I think 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 35-36 zone is resistance.
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.

No comments: