Guesstimates on January 31, 2017

March S&P E-mini Futures: The ES dropped below support at 2273 and 2277 yesterday on high volume. I think the market will continue down into the 2250-55 range and then move above 2300. The ES is headed substantially higher in 2017.

QQQ:  The March 2000 top at 120.50 is now support. This average should move generally higher in 2017.

TNX (ten year note yield): Support in the 10 year note yield is at 2.25%. Next upside targets will be 2.85%  and then 3.40%. The 10 year yield is 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 112. Upside target is 126-27 then 136

West Texas Crude Oil: Crude is in a bull market. The 56-58 upside target has nearly been reached. Support remains at 45, Next upside target is 62.

February Gold:  Gold is headed back to its 1035 low and quite possibly lower.

March Silver: 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 any rally. TWTR is headed for 10.00.

Alibaba: The 85-90 zone is strong support and I expect BABA to swing up to 125.

Visa: Support is at 70. Upside target is 90-95.

Guesstimates on January 30, 2017

March S&P E-mini Futures: The ES has staged an upside breakout from its December-January trading range. The highs of this range at 2273 and 2277 are now support levels. I think the ES is headed substantially higher in 2017.

QQQ:  The March 2000 top at 120.50 is now support. This average should move generally higher in 2017.

TNX (ten year note yield): Support in the 10 year note yield is at 2.25%. Next upside targets will be 2.85%  and then 3.40%. The 10 year yield is 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 112. Upside target is 126-27 then 136

West Texas Crude Oil: Crude is in a bull market. The 56-58 upside target has nearly been reached. Support remains at 45, Next upside target is 62.

February Gold:  Gold is headed back to its 1035 low and quite possibly lower.

March Silver: 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 any rally. TWTR is headed for 10.00.

Alibaba: The 85-90 zone is strong support and I expect BABA to swing up to 125.

Visa: Support is at 70. Upside target is 90-95.

Guesstimates on January 27, 2017

March S&P E-mini Futures: The ES has staged an upside breakout from its December-January trading range. The highs of this range at 2273 and 2277 are now support levels. I think the ES is headed substantially higher in 2017.

QQQ:  The March 2000 top at 120.50 is now support. This average should move generally higher in 2017.

TNX (ten year note yield): Support in the 10 year note yield is at 2.25%. Next upside targets will be 2.85%  and then 3.40%. The 10 year yield is 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 112. Upside target is 126-27 then 136

West Texas Crude Oil: Crude is in a bull market. The 56-58 upside target has nearly been reached. Support remains at 45, Next upside target is 62.

February Gold:  Gold is headed back to its 1035 low and quite possibly lower.

March Silver: 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 any rally. TWTR is headed for 10.00.

Alibaba: The 85-90 zone is strong support and I expect BABA to swing up to 125.

Visa: Support is at 70. Upside target is 90-95.

Guesstimates on January 26, 2017

March S&P E-mini Futures: The ES has staged an upside breakout from its December-January trading range. The highs of this range at 2273 and 2277 are now support levels. I think the ES is headed substantially higher in 2017.

QQQ:  The March 2000 top at 120.50 is now support. This average should move generally higher in 2017.

TNX (ten year note yield): Support in the 10 year note yield is at 2.25%. Next upside targets will be 2.85%  and then 3.40%. The 10 year yield is 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 112. Upside target is 126-27 then 136

West Texas Crude Oil: Crude is in a bull market. The 56-58 upside target has nearly been reached. Support remains at 45, Next upside target is 62.

February Gold:  Gold is headed back to its 1035 low and quite possibly lower.

March Silver: 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 any rally. TWTR is headed for 10.00.

Alibaba: The 85-90 zone is strong support and I expect BABA to swing up to 125.

Visa: Support is at 70. Upside target is 90-95.

Guesstimates on January 25, 2017

March S&P E-mini Futures: The ES is attempting an upside breakout from the trading range of the past 6 weeks. Volume has been low, however, so it is difficult to judge the significance of yesterday’s rally above the January 6 top of 2277.00. Since I think the ES is headed substantially higher in 2017 I am going to give the bull side the benefit of the doubt here. Next resistance is 2297.

QQQ:  The 120.50 level was strong resistance because it was the historical high which the Q’s established 17 years ago in March of 2000. The Q’s have recently moved above this level. If they can hold support at 120 the next upside target will be 125-26. In any case this average should move generally higher in 2017.

TNX (ten year note yield): Support in the 10 year note yield is at 2.25%. Next upside targets will be 2.85%  and then 3.40%. The 10 year yield is 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 112. Upside target is 126-27 then 136

West Texas Crude Oil: Crude is in a bull market. The 56-58 upside target has nearly been reached. Support remains at 45, Next upside target is 62.

February Gold:  Gold is headed back to its 1035 low and quite possibly lower.

March Silver: 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.

Visa: Support is at 70. Upside target is 90-95.