Thursday, November 16, 2023

Guesstimates on November 16, 2023

December S&P E-mini futures:  Inflation is coming down and the Fed is unlikely to tighten any more. I expect to see the ES trade well above 5000 over the next 8 months.

QQQ: Upside target is 395. Support is 338.

TNX (ten year note yield): Long standing upside target at 4.95% has been reached. Support is now 4.20% while next upside target is 5.40%

Euro-US Dollar: The Euro is likely to drop to support at 100. Meantime resistance is 112.

Bitcoin: Support is 26,000. The 36,000 target has been reached. Next stop 50,000.

West Texas Crude Oil: Upside target remains 100. Support at 77 is wobbling. If it fails then down to 62.

Gold:  Upside target is 2070. Support is 1920.

Apple: Upside target at 200 was reached. Support is now 165.

Amazon: Support is 110. Upside target is 175. 

Google: Upside target is 150-55. Support is 90.

Meta:  Support is 250 while next upside target is 375.

Netflix: Next upside target at 450 has been reached. Support now is 350.

 

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