Guesstimates on January 17, 2018

March S&P E-mini Futures:  The ES dropped 39 points yesterday from its 2807 upside target. The subsequent fast recovery makes it likely that the market is now headed for 2828. During the first quarter of 2018 the ES is likely to reach 2860 and perhaps 3000.

QQQ:  There is as yet no sign of a significant top. Support is at 153 and the next upside target is 168.

TNX (ten year note yield): The 10 year yield is on its way to the next upside target at 2.95%. Paradoxically this is good news for the stock market because it means that confidence in future growth is being restored.

Euro-US Dollar: The Euro is headed for 126.  Support is at 118.00

Dollar-Yen: A bull market is underway. Support is at 108. Upside target is 126-27 then 136

West Texas Crude Oil: Crude has reached the upside target at 63 which appears to be morphing into support. Next upside target is 70.

Gold:  The 1295 resistance level is now support. Upside target is 1390.

Silver: Resistance is at 18.50. Silver is headed for 13.00 and below.

Google: Upside target at 1105 has been reached. Support now is at 1045. Next upside target is 1195.

Apple:   Support now is 160. Next upside target is 182.

Facebook:  Support is at 170 and the upside target is 200.

Twitter: Support is 18. As long as it holds TWTR is headed for 34-36 with a temporary halt at 25 on the way up.

Alibaba: Support remains at 160. Next upside target is 199.

Visa: Upside target at 120 has been reached but there is no sign of a top. Next target is 127.