Guesstimates on January 14, 2014

March S&P E-mini Futures: Today’s range estimate is 1806-1822. The ES dropped below its January 6 low yesterday and closed below there. This looks like a downside breakout from the trading range which formed so far in 2014. A bigger drop of at least 52 points from 1846 is underway and will probably extend further to 80-85 points

QQQ:  Headed lower, probably to 83.50.

TNX (ten year note yield): I think the market will move to 3.50% over the next few months.

Euro-US Dollar: Unless and until 1.37 is breached on a closing basis I will stick with the 1.33 downside target.

Dollar-Yen: The dollar-yen is headed for 107.00.

February Crude:  I think crude is headed back to 86 and possibly lower than that.

February Gold:  The market is headed to 1030.

March Silver: The market is headed for 13.00.

Google:  Upside target is 1150 and support beneath the market stands at 1030.

Apple:  AAPL is now probably headed for 600-610.