Monday, January 22, 2018

Guesstimates on January 22, 2018



March S&P E-mini Futures:  The ES is probably headed for 2828. Support is at 2792. During the first quarter of 2018 the ES is likely to reach 2860. The 3100 level is a good bet for later this year too.
QQQ:  There is as yet no sign of a significant top. Support is at 153 and the next upside target is 168.
TNX (ten year note yield): The 10 year yield is on its way to the next upside target at 2.95%. Paradoxically this is good news for the stock market because it means that confidence in future growth is being restored.
Euro-US Dollar: The Euro is headed for 126.  Support 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 has reached the upside target at 63 which appears to be morphing into support. Next upside target is 70.
Gold:  The 1295 resistance level is now support. Upside target is 1390.
Silver: Resistance is at 18.50. Silver is headed for 13.00 and below.
Google: Upside target at 1105 has been reached. Support now is at 1045. Next upside target is 1195.
Apple:   Support now is 160. 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 at 120 has been reached but there is no sign of a top. Next target is 127.

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