Guesstimates on March 3, 2015

March S&P E-mini Futures: Today’s range estimate is 2106-2116. The market is headed above the 2200 level over the next couple of months.

QQQ: The current rally should carry to 112.00

TNX (ten year note yield): I think that the market is headed up to 3.00%.

Euro-US Dollar: The ECB’s quantitative easing program will drop the euro below 1.00 over the coming months. Resistance above the market is at 1.17.

Dollar-Yen: Support is at 116. The bull market has much further to go over the coming months. 140-45 is my longer term target zone.

April Crude:  The longer term trend in oil prices is downward and should carry this market down close to the 2008 low at 33. Resistance above the market is at 55.

April Gold:  The odds favor continuation downward to 1040 over the coming months. Resistance above the market is at 1230.

May Silver: I think silver is headed for 13.00.

Google:  GOOGL has reestablished itself above 550 and closed above its 200 day moving average as well. I think the longer term trend is upward and expect GOOGL to hit 640.

Apple:  There is no reason for thinking the bull market is over. New upside target is 140 but 160 should not be far behind.

Facebook: Upside target is 90. Support is 72.

Twitter: Twitter has reestablished itself above its declining 200 day moving average. I think this a bullish development and now expect TWTR to move up to 70.

Alibaba: BABA has reached 84 and after a rally back to 90 should then drop to 68.

Visa: Visa is headed up to 290. Support is at 250.