Tuesday, September 13, 2016

Guesstimates on September 13, 2016

December S&P E-mini Futures: Temporary support is still at 2104, the .382 retracement of the Brexit advance. But the ES is likely to drop further, at least to midpoint support near 2080 and quite possibly all the way back to the Brexit low.
QQQ:  A drop to 108-110 is in the cards before the bull market can resume.
TNX (ten year note yield): The market briefly dropped below the 2012 low yield of 1.39% but I think a substantial advance in yields is now underway.
Euro-US Dollar: I still think that the ECB’s QE policy will ultimately drop the Euro below par.
Dollar-Yen: A bear market is underway. Resistance is 104-106. Next downside target is 95.
October Crude: Crude is in a bull market. Support at 40-41. Next upside target is 56-58.
December Gold:  A bull market is underway in gold. Support is now at 1280. Next upside target is 1420.
December Silver: Silver exceeded the 20.00 target by more than a dollar. Next upside target is 25.00. Support now is at 18.00.
Google: Support is 675. Upside target is 880.
Apple:  I still think the bull market in APPL is intact. However should AAPL start spending time below 90 I think continuation down to 70 will become likely.  
Facebook: Support is at 120. Next upside target is 145.
Twitter: The 18-20 zone is an important barrier. If TWTR spend more than 2 days trading above 21 I will conclude that a new bull market has begun.
Alibaba: Support is now at 90 and the next upside target is 103.
Visa: Support is at 70. Upside target is 90-95.

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