March S&P E-mini Futures: The ES dropped below support at 2273 and
2277 yesterday on high volume. I think the market will continue down into the
2250-55 range and then move above 2300. The ES is headed substantially higher
in 2017.
QQQ: The March 2000 top at
120.50 is now support. This average should move generally higher in 2017.
TNX (ten year note yield): Support in the 10 year note yield is at
2.25%. Next upside targets will be 2.85%
and then 3.40%. The 10 year yield is well above its 200 day moving
average which suggests that a sustained rise in yields is underway. I think
this paradoxically is a very bullish omen for world stock markets.
Euro-US Dollar: The ECB’s QE policy will ultimately drop
the Euro below par.
Dollar-Yen: A new bull market is underway. Support now
is at 112. Upside target is 126-27 then 136
West Texas Crude Oil: Crude is in a bull market. The 56-58
upside target has nearly been reached. Support remains at 45, Next upside
target is 62.
February Gold: Gold
is headed back to its 1035 low and quite possibly lower.
March Silver: Silver is headed for 13.00 and below.
Google: Support is 675. Upside target is 880.
Apple: I
still think the bull market in APPL is intact. If it is AAPL is on its way to
135.
Facebook: Support at 112. Next upside target is 145.
Twitter: Breakout support at 20 is likely to stop any rally. TWTR is
headed for 10.00.
Alibaba: The 85-90 zone is strong support and I expect BABA to swing
up to 125.
Visa: Support is at 70. Upside target is 90-95.
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