Wednesday, January 06, 2016

Guesstimates on January 6, 2016

March S&P E-mini Futures: Today’s range estimate is 1955-1987. The 1951-58 support zone should stop the drop from the November 3 top. If it doesn’t then the market will drop to and probably below last year’s August low point.
 QQQ:  Upside target is 120 and support is at 108.
TNX (ten year note yield): I think that the market yield is headed up to 3.00%.
Euro-US Dollar:  The market is headed lower. Downside target is 0.96 over the coming months.
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 while 127-28 is near term resistance.
February Crude:  Support is 35. Resistance above the market is at 50.
February Gold:  The odds favor continuation down to 1030.
March Silver: I think the bear market in silver may be over. If so support is at 13.50.
Google: Support is now 730
Apple:  APPL keeps slipping below support levels, a bearish indication. A drop below 100 would mean that it is headed for 90 or lower.
Facebook: Resistance is at 110-12. Support is 95.
Twitter: I think the August low in TWTR at 21 will hold. Twitter is headed for 43.
Alibaba: Upside target is 100. Support is 75.
Visa: I think Visa is headed for 82 and eventually higher than that.

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