Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Friday, October 05, 2018
Guesstimates on October 5, 2018
December S&P E-mini Futures: Resistance today is 2917 and unless the ES moves above that level I think another test of 2883-88 support will develop. In any case I still think the 3100 level remains a plausible target by year end.
QQQ: Support is 175 and the upside target is now 190.
TNX (ten year note yield): Support remains at 2.70%. Next upside target is 3.50%. Rising interest rates are good news for the stock market because they signify that confidence in future growth is being restored. This in turn means that investors will try to put the huge supply of central bank liquidity to work in risky assets. This process will drive world wide stock market prices higher.
Euro-US Dollar: It is likely the Euro bear market has resumed. Ultimately it is likely to carry the Euro back down to its 103 low.
Dollar-Yen: A swing up to 117 is likely.
West Texas Crude Oil: Support is 65. The 72-74 zone was strong resistance but has been breached a second time. I expect more selling at 78 but if this resistance fails crude will be headed for 87.
Gold: Resistance is in the 1215-20 zone. Another down leg is likely to begin soon and probably carry the market down to 1120-30.
Silver: Silver is headed for 12.50 and possibly lower.
Google: Support is at 1175. Next upside target is 1400.
Apple: AAPL is headed for 250.
Facebook: FB has support at 150. I think FB will move to new highs before this bull market is over.
Twitter: Support at 30 appears to be failing. This means that TWTR is headed back to 13 or below. A recovery back above 30 would be bullish.
Alibaba: Support at 160 has failed. Next stop is 145. I still think BABA will reach new bull market highs during the next few months.
Visa: Headed for 155. Support still is 135.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment