Thursday, January 04, 2018

Guesstimates on January 4, 2018

March S&P E-mini Futures:  The ES has moved past the first target zone of 2712-15 and is not headed for the second upside target at 2728. Support now is at the trading range top of 2698. During the first quarter of 2018 the ES is likely to reach 2860 and perhaps 3000.
QQQ:  The 160 target has been reached but there is no sign of a significant top. Support is now at 153 and the next upside target is 168.
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 then to 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 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 is 120.

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