Friday, March 01, 2024

Guesstimates on March 1, 2024

March 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 up to 5400 over the next 4 months.

QQQ: Support is 415. Next upside target is 450.

TNX (ten year note yield): Long standing upside target at 4.95% was reached. The 3.75% level is support.

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

Bitcoin: Support is at 43,000. Upside target at 66,000 has nearly been reached.

West Texas Crude Oil: The downside target is 62. Resistance is 81.

Gold: Support is 1980-2000. Resistance is 2075. I believe that the long bull market in gold is over.

Apple: Next upside target past 200 is 250. Support is 165.

Amazon: Upside target at 175 has been reached. Support now is 145 and next upside target is 205. 

Google: Upside target at 150-55 has been reached. Support is now 125.

Meta:  Upside target is 530. Support is 310.

Netflix: Upside target is 710. Support now is 450.

Nvidia: Upside target at 725 was reached and then breached on earnings news. Support is now 660. The 750-800 zone is likely to be strong resistance.

Tesla: TSLA upside target is 350. Support is 180.

Visa: Upside target at 285 has been reached. Support now is 250.

 

 

Thursday, February 29, 2024

Guesstimates on February 29, 2024

March 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 up to 5400 over the next 4 months.

QQQ: Support is 415. Next upside target is 450.

TNX (ten year note yield): Long standing upside target at 4.95% was reached. The 3.75% level is support.

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

Bitcoin: Support is at 43,000. Upside target is 66,000 has nearly been reached.

West Texas Crude Oil: The downside target is 62.

Gold: Support is 1980-2000. Resistance is 2075. I believe that the long bull market in gold is over.

Apple: Next upside target past 200 is 250. Support is 165.

Amazon: Upside target at 175 has been reached. Support now is 145 and next upside target is 205. 

Google: Upside target at 150-55 has been reached. Support is now 125.

Meta:  Upside target is 530. Support is 310.

Netflix: Upside target is 710. Support now is 450.

Nvidia: Upside target at 725 was reached and then breached on earnings news. Support is now 660. The 750-800 zone is likely to be strong resistance.

Tesla: TSLA upside target is 350. Support is 180.

Visa: Upside target at 285 has been reached. Support now is 250.

 

 

Wednesday, February 28, 2024

Guesstimates on February 28, 2024

March 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 up to 5400 over the next 4 months.

QQQ: Support is 415. Next upside target is 450.

TNX (ten year note yield): Long standing upside target at 4.95% was reached. The 3.75% level is support.

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

Bitcoin: Support is at 43,000. Upside target is 66,000.

West Texas Crude Oil: The downside target is 62.

Gold: Support is 1980-2000. Resistance is 2075. I believe that the long bull market in gold is over.

Apple: Next upside target past 200 is 250. Support is 165.

Amazon: Upside target at 175 has been reached. Support now is 145 and next upside target is 205. 

Google: Upside target at 150-55 has been reached. Support is now 125.

Meta:  Upside target is 530. Support is 310.

Netflix: Upside target is 710. Support now is 450.

Nvidia: Upside target at 725 was reached and then breached on earnings news. Support is now 660. The 750-800 zone is likely to be strong resistance.

Tesla: TSLA upside target is 350. Support is 180.

Visa: Upside target at 285 has been reached. Support now is 250.