Friday, March 04, 2016

Guesstimates on March 4, 2016

March S&P E-mini Futures: The ES is behaving bullishly by holding above the bear market midpoint at 1968. I think this means that the US stock market averages are headed above last year’s high points. Support today is at 1984 while support for the next couple of days is at 1968.
QQQ:  The Q’s are headed for 112 and eventually to 120. Support now is at 101.
TNX (ten year note yield): Stock market prospects are improving. We may well have seen the low 10 year yield for the year. In any case I think that the 10 year yield will reach 3.00% during the next 12 months.  
Euro-US Dollar: The market is headed lower. Downside target is 0.96 over the coming months.
Dollar-Yen: Support at 116 has failed. It looks like a new bear market has started which has bearish implications for world and for Japanese stock markets. Next downside target is 108.
April Crude: The 24 level is long term support. The 35-36 zone is resistance.
April Gold:  a new bull market has begun in gold. The market bounced off of 1260 resistance. Support is at 1175 and the next upside target is 1315.
May Silver: I think the bear market in silver is over. Resistance is at 16.25.
Google: Support is 675.
Apple:  APPL has dropped below 100 so 90 is the likely next stop.
Facebook: Resistance is now 120. Support is 95.
Twitter: Twitter is probably headed for 10.
Alibaba: Resistance is at 75 and next downside target is 57.
Visa: Support is at 70.

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