March S&P E-mini Futures: Now switching to the March ’17 contract.
A reaction to support at 2210-15 is likely to start soon but this market has
been showing great technical strength. It is likely to reach one or both of the
2298 and 2345 upside targets during by early next year.
QQQ: The 120 level is strong
resistance since it is the historical high which the Q’s reached in March of
2000. I expect this average to eventually move above that level to 125 and
probably higher than that eventually.
TNX (ten year note yield): The initial 2.50% target has nearly been
reached with a 2.49% print so far. However I think a push up into the 2.85-3.00%
zone is likely before the longer term up trend in yields pauses. The 10 year
yield is now well above its 200 day moving average which suggests that a
sustained rise in yields is underway. I think this paradoxically is a very
bullish omen for world stock markets.
Euro-US Dollar: The ECB’s QE policy will ultimately drop
the Euro below par.
Dollar-Yen: A new bull market is underway. Support now
is at 108. Upside target is 126-27 then 136
January Crude: Crude is in a bull market. Support is
still at 40-41. Next upside target is 56-58.
February Gold: Gold
is headed back to its 1035 low and quite possibly lower.
March Silver: The support level at 17.00 has failed.
Silver is headed for 13.00 and below.
Google: Support is 675. Upside target is 880.
Apple: I
still think the bull market in APPL is intact. If it is AAPL is on its way to
135.
Facebook: Support at 112. Next upside target is 145.
Twitter: Breakout support at 20 is likely to stop the current rally. TWTR
is headed for 10.00.
Alibaba: The 85-90 zone is strong support and I expect BABA to swing
up to 125 from there.
Visa: Support is at 70. Upside target is 90-95.
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