Tuesday, March 17, 2020
Guesstimates on March 17, 2020
June S&P E-mini Futures: A drop to 2300 or so is still likely. But bearish sentiment and volatility are both very high. For this reason I also expect a rally of 500 points or so to begin soon
QQQ: Support is now 175.
TNX (ten year note yield): Downside target is 0.00.
Euro-US Dollar: Resistance above the market is 115.50. The longer term picture is bearish.
Dollar-Yen: The dollar-yen has dropped back below 108 support. Downside target is 100.
West Texas Crude Oil: The Saudis started a price war which so far has dropped crude as low as 28. Support now is 25 with resistance at 37.
Gold: Support at 1530 has failed. It looks like an extended drop has begun, one likely to take gold back to vicinity to 1000.
Silver: Silver has reached the 12.50 downside target but will probably continue lower to 9.50.
Google: Support is 1150.
Apple: Support is 250.
Amazon: 1650 is support.
Facebook: Support is 159.
Twitter: Support at the 28 level has held so far but its failure would be very bearish.
Alibaba: Support is 185.
Visa: Support is 165.