Monday, August 10, 2020

Guesstimates on August 10, 2020.


September S&P E-mini Futures:  Next upside target is the all time high at 3397. This is a bull market. The March 23 low at 2174 ended the drop from 3397 – the Corona Crash. I think the Fed’s QE program is very bullish long term and that the Corona Crisis has passed its peak. The 2174 low will hold for several years.

QQQ:  Support is 235. The next upside target is 285.

TNX (ten year note yield): There is a good chance that the 0.40% level was the low yield of this nearly 40 year decline in bond yields and that yields will soon start a long march into higher ground.

Euro-US Dollar: A swing up to 125.00 is now likely.

Dollar-Yen: Still confined within a 101-115 trading range.

West Texas Crude Oil: A bull market is in progress. Next upside target is 44. Support now is 32.

Gold: Next upside target is 2150. Support is at 1990.

Silver: Resistance at 27.00 is likely to fail. Support is 22.50 and next upside target is 31.00.

Google: Upside target is 1600 has nearly been reached. Next step up will be to 1750.

Apple: Upside target at 450 has been reached. 395 is support. Next upside target will be 550.

Amazon: Next upside target is 3700. Support is 2500.

Facebook:  Upside target is 290.

Twitter: Upside target 75.

Alibaba: BABA now headed for 305.

Visa: Upside target is 240.

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