Wednesday, September 21, 2016

Guesstimates on September 21, 2016

December S&P E-mini Futures: It looks like the ES will rally back to and a little past last week’s 2156 top before more downside action develops. I still think the ES is on its way to its Brexit low at 1980.
QQQ:  A drop at least to 108-110 is in the cards before the bull market can resume.
TNX (ten year note yield): I think a substantial advance in yields is 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.
November 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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