Monday, January 04, 2021

Guesstimates on January 4, 2021


March S&P E-mini Futures:  This is a bull market. The Fed’s QE program is very bullish long term and the Corona Crisis has passed its peak. The March 2020 low at 2174 will hold for several years and the ES is likely to trade up to or past 4500 by the end of 2021.

QQQ:  The Q’s have reached the 315 upside target. Support is at 305 and next target is 325.

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. Yields are now in the early stages of a long march into higher ground.

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

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

West Texas Crude Oil: A bull market is in progress. Support is 41. Next upside target is 50-55.

Gold: If gold stays below 1800 for more than a week then a bear market has begun. Unless and until 1800 support fails in this way higher prices and new bull market highs above 2070  lie ahead.

Silver:  Support is 21.00.

Google: Resistance is 1800 and support now is at 1450-1500.

Apple: The 103 low is likely to hold. AAPL is headed for 145 and above.  

Amazon: Next upside target is 3700. Support is now 2850.

Facebook:  Next upside target is 306 then 325.

Twitter: Upside target 75.

Alibaba: BABA should find support near 250.

Visa: Upside target is 240. Support is at 175-180.

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