Tuesday, September 10, 2019
Guesstimates on September 10, 2019
September S&P E-mini Futures: A drop to support at 2944 is underway. Once it is complete a swing up to the historical high at 3029.50 will follow. The Lindsay basic advance which started from the December low remains intact and is likely to last two years and carry the ES to 3500 or so.
QQQ: I think that this index is headed for 230-240 during the next 18 months.
TNX (ten year note yield): The 1.60% support level failed and now appears to be acting as resistance. This means that the 10 year yield is probably headed for 1.35%, its all time low.
Euro-US Dollar: Resistance above the market is 115.50. The longer term picture is bearish.
Dollar-Yen: The Dollar-Yen support at 108.00 has failed. This means that a drop to 100 is underway.
West Texas Crude Oil: Resistance at 57 appears to be failing. If it does then a swing up into the 67-72 zone will become likely.
Gold: Support is near 1490. Next upside target 1600-20.
Silver: Silver resistance failed and a breakout from a very long trading range has developed. Next upside target is 22.50.
Google: Support now is 1120. Next upside target is 1350.
Apple: AAPL is headed for 250.
Facebook: Support is at 166 and resistance is 198.
Twitter: TWTR is on its way to its all time high at 74.
Alibaba: BABA is starting to act as if a breakout above the 180 resistance level is imminent. If it occurs then BABA will be headed for new bull market highs.
Visa: Support at 160-62 was not reached. V is now headed for 200.