Friday, February 03, 2023

Guesstimates on February 3, 2023

March S&P E-mini Futures:  The 391 point drop from 4180 was the biggest in the bull market thus far. But the ES has established itself above 3850 so the second up leg of the bull market is now underway with upside target 4400-4500.

QQQ:  Support is now 283. Next upside target is 305.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. Support now is at 3.40% and next upside target is 4.95%.

Euro-US Dollar: The next step up will be to 112-113.

Bitcoin: This rally is very bullish behavior in the face of universally bad news in crypto. I think the bitcoin bear market is over. Resistance is still 26,000 but the trend over the next few months should carry bitcoin at least to 36,000 and maybe to 50,000.

West Texas Crude Oil: Support is at 72. Next upside target is 104.

Gold: The swing up halted in the lower part of the 1950-2000 range. Support is now 1850 and assuming it holds another swing up to 2020 or so is likely.

Apple: Upside target is still 200. Support is 125.

Alibaba: Resistance is 125. Support is 45.

Amazon: Resistance is 105. If that fails then up to 125 and a new bull market will be underway in AMZN.

Google: Support is 88. A swing visibly above 100 will begin a move to 150-55.

Meta:  The rally from 90 is likely to halt in the 145-50 zone. If it doesn’t then next upside target is 175.

Netflix: Upside target is now 375.

Tesla: A new bull market is underway in TSLA with upside target 350. Support now is 135.

Visa: Support is 163. Upside target is 250.

 

Thursday, February 02, 2023

Guesstimates on February 2, 2023

March S&P E-mini Futures:  The 391 point drop from 4180 was the biggest in the bull market thus far. But the ES has established itself above 3850 so the second up leg of the bull market is now underway with upside target 4400-4500.

QQQ:  Support is now 283. Next upside target is 305.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. Support now is at 3.40% and next upside target is 4.95%.

Euro-US Dollar: The next step up will be to 112-113.

Bitcoin: This rally is very bullish behavior in the face of universally bad news in crypto. I think the bitcoin bear market is over. Resistance is still 26,000 but the trend over the next few months should carry bitcoin at least to 36,000 and maybe to 50,000.

West Texas Crude Oil: Support is at 72. Next upside target is 104.

Gold: The swing up halted in the lower part of the 1950-2000 range. Support is now 1850 and assuming it holds another swing up to 2020 or so is likely.

Apple: Upside target is still 200. Support is 125.

Alibaba: Resistance is 125. Support is 45.

Amazon: Resistance is 105. If that fails then up to 125 and a new bull market will be underway in AMZN.

Google: Support is 88. A swing visibly above 100 will begin a move to 150-55.

Meta:  The rally from 90 is likely to halt in the 145-50 zone. If it doesn’t then next upside target is 175.

Netflix: Upside target is now 375.

Tesla: A new bull market is underway in TSLA with upside target 350. Support now is 135.

Visa: Support is 163. Upside target is 250.

 

 

Wednesday, February 01, 2023

Guesstimates on February 1, 2023

March S&P E-mini Futures:  The 391 point drop from 4180 was the biggest in the bull market thus far. But the ES has established itself above 3850 so the second up leg of the bull market is now underway with upside target 4400-4500.

QQQ:  Support is now 283. Next upside target is 305.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. Support now is at 3.40% and next upside target is 4.95%.

Euro-US Dollar: Resistance at 108.00 will probably fail and the next step up will be to 112-113.

Bitcoin: This rally is very bullish behavior in the face of universally bad news in crypto. I think the bitcoin bear market is over. Resistance is still 26,000 but the trend over the next few months should carry bitcoin at least to 36,000 and maybe to 50,000.

West Texas Crude Oil: Support is at 72. Next upside target is 104.

Gold: The swing up halted in the lower part of the 1950-2000 range. Support is now 1850 and assuming it holds another swing up to 2020 or so is likely.

Apple: Upside target is still 200. Support is 125.

Alibaba: Resistance is 125. Support is 45.

Amazon: Resistance is 105. If that fails then up to 125 and a new bull market will be underway in AMZN.

Google: Support is 88. A swing visibly above 100 will begin a move to 150-55.

Meta:  The rally from 90 is likely to halt in the 145-50 zone. If it doesn’t then next upside target is 175.

Netflix: Upside target is now 375.

Tesla: A new bull market is underway in TSLA with upside target 350. Support now is 135.

Visa: Support is 163. Upside target is 250.