Tuesday, January 02, 2018

Guesstimates on January 2, 2018



March S&P E-mini Futures:  The rapid rebound from Friday’s low looks like a lockout rally following a shakeout. I think Friday’s low will hold and that the ES is now headed for 2712-15. During the first quarter of 2018 the ES is likely to reach 2860.
QQQ:  Short term support is at 148.  I think this average is headed for 160 before a significant drop develops.
TNX (ten year note yield): If the 10 year yield can stay above the 2.15% level then I think deflationary fears have been put aside and the trend upward to a 3.00% yield will continue. 
Euro-US Dollar: The Euro is headed for 121.50 and eventually higher.  Support now is at 118.00
Dollar-Yen: A bull market is underway. Support is at 108. Upside target is 126-27 then 136
West Texas Crude Oil: Crude is headed for its next upside target at 63. Support now is at 54.
Gold:  The 1295 resistance level has failed. Upside target is now 1390.
Silver: Resistance is at 18.50. Silver is headed for 13.00 and below.
Google: Next upside target is 1105. Support is at 990.
Apple:   Support still is at 144. Next upside target is 182.
Facebook:  Support is at 170 and the upside target is 200.
Twitter: Support is 18. As long as it holds TWTR is headed for 34-36 with a temporary halt at 25 on the way up.
Alibaba: Support remains at 160. Next upside target is 199.
Visa: Upside target now is 120.

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