Guesstimates on January 31, 2014

March S&P E-mini Futures: Today’s range estimate is 1754-1772.  The ES is on its way to 1720.

QQQ:  Downside target is 82.00.

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:  Support is at 1060. Temporary resistance is at 1185.

Apple:  The big drop on earnings news put AAPL back in sync with the bearish market trend but the uptrend in AAPL from its 385 low last April is still intact. Support now is at 485, just above the 200 day moving average. My best guess is that this support level will hold and that AAPL will resume its advance to 600 and higher.