Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Tuesday, February 12, 2019
Guesstimates on February 12, 2019
March S&P E-mini Futures: The ES headed for last week’s high at 2737.75. A failure of the 2736-40 resistance zone will mean that a rally to 2800 or so is underway. And that in turn would force me to abandon my current bear market hypothesis.
QQQ: Resistance is now at 167 has failed. Next upside target is 174-76. Support is 162. This is looking less and less like a bear market.
TNX (ten year note yield): The 10 year yield should end its decline in the 2.30 – 2.50% zone.
Euro-US Dollar: Resistance above the market is 115.50. The longer term picture is bearish.
Dollar-Yen: The 109 resistance level has failed. Upside target is now 112.50. The failure of 109 resistance kills my bear market hypothesis and makes it likely that the Dollar-yen is headed above 115.
West Texas Crude Oil: The resistance level at 51 has failed so a swing up to 59 is now likely. A rally past 59 would probably mean a return to 76 and higher.
Gold: The market is headed for 1365.
Silver: Silver resistance is at 16.50.
Google: Resistance above the market is 1150.
Apple: AAPL is likely to drop as low as 120 during the coming months.
Facebook: FB is likely to stay below 175.
Twitter: TWTR is has established a 27-36 trading range. A downside breakout from this range is likely within a couple of months and will probably carry TWTR to 12.
Alibaba: There is a good chance that BABA is headed for 100.
Visa: Support remains at 125 but a drop to 95 is likely over the next few months.
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