Friday, February 28, 2014

Guesstimates on February 28, 2014

March S&P E-mini Futures: Today’s range estimate is 1848-63.  I still think the ES is headed above 1900 over the next couple of months but a significant break of support at 1829 would mean that a drop of 50 point or more is underway.
QQQ:  Upside target is 91.
TNX (ten year note yield): I think the market will move to 3.50% over the next few months.
Euro-US Dollar: The Euro is headed up to 1.43.
Dollar-Yen: The dollar-yen is headed for 107.00.
April Crude:  I think crude is headed back to 86 and possibly lower than that. I expect resistance at 102-103 to hold but if it fails then crude will probably head up to 111 or so.
April Gold:  The market has breached 1290 resistance decisively and is now headed above 1400.
March Silver: Silver has moved above its 21.30 resistance level and a move as high as 26.00 is underway.
Google:  Support is at 1060. Next upside target is 1250.
Apple:  The uptrend in AAPL from its 385 low last April is still intact. My best guess is that AAPL is headed for 600 and higher.  

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