Thursday, March 30, 2017

Guesstimates on March 30, 2017

June S&P E-mini Futures:  I think the drop from the March 1 top is over. The ES is on its way above 2400 and later this year above 2500.
QQQ:  The March 2000 top at 120.50 is long term support. Shorter term support is now at 126.00. 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 111-12. Upside target is 126-27 then 136
West Texas Crude Oil: Crude is in a bull market. The 56-58 upside target has been reached. Support remains at 45, Next upside target is 62.
April Gold:  Resistance is at 1260. Gold is headed back to its 1035 low.
May 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. AAPL is on its way to 145.
Facebook: Support at 120. Next upside target is 145.
Twitter: Breakout resistance 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.

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