Guesstimates on February 28, 2018

March S&P E-mini Futures:  Yesterday the ES dropped away from 2790 resistance. Downside target is 2691. Today resistance above the market is at 2764. I think that the ES will move to 3100 later this year.

QQQ:  Upside target of 170 has been reached. Support now is at 164 and next upside target is 180.

TNX (ten year note yield): The 10 year yield has nearly reached its next upside target at 2.95%. Support is at 2.70%. I still think this is good news for the stock market because it means that confidence in future growth is being restored. This in turn means that investors will try to put the huge supply of central bank liquidity to work in risky assets. This process will drive world wide stock market prices higher.

Euro-US Dollar: The Euro nearly reached the 126 target.  Support now is at 122.50. Next upside target will be 130.

Dollar-Yen: Support at 108 has finally failed. Downside target now are 99 and then 90.

West Texas Crude Oil: I expect crude to hold support at 59. The next upside target will then be 74.

Gold:  The 1295 is support. Upside target is 1390.

Silver: Resistance is at 18.50. Silver is headed for 13.00 and below.

Google: GOOG is headed for 1250.

Apple:  AAPL is headed higher to 180 and above.

Facebook:  FB is likely to move higher into the 195-200 zone.

Twitter: TWTR reached the 34-36 target zone on earnings news.

Support is now at 26. After some sideways action I expect TWTR to move up to 48.

Alibaba: BABA should rally to 215 over the coming weeks.  

Visa: Headed for 135.

Guesstimates on February 27, 2018

March S&P E-mini Futures:  The ES has nearly reached 2790 resistance. Support is 2747-54.  I think that the ES will move to 3100 later this year. Before new bull market highs occur there will probably be one more big drop, probably of 100 points or so.

QQQ:  Upside target of 170 has been reached. Support now is at 164 and next upside target is 180.

TNX (ten year note yield): The 10 year yield has nearly reached its next upside target at 2.95%. Support is at 2.70%. I still think this is good news for the stock market because it means that confidence in future growth is being restored. This in turn means that investors will try to put the huge supply of central bank liquidity to work in risky assets. This process will drive world wide stock market prices higher.

Euro-US Dollar: The Euro nearly reached the 126 target.  Support now is at 122.50. Next upside target will be 130.

Dollar-Yen: Support at 108 has finally failed. Downside target now are 99 and then 90.

West Texas Crude Oil: I expect crude to hold support at 59. The next upside target will then be 74.

Gold:  The 1295 is support. Upside target is 1390.

Silver: Resistance is at 18.50. Silver is headed for 13.00 and below.

Google: GOOG is headed for 1250.

Apple:  AAPL is headed higher to 180 and above.

Facebook:  FB is likely to move higher into the 195-200 zone.

Twitter: TWTR reached the 34-36 target zone on earnings news.

Support is now at 26. After some sideways action I expect TWTR to move up to 48.

Alibaba: BABA should rally to 215 over the coming weeks.  

Visa: Headed for 135.

Guesstimates on February 23, 2018

March S&P E-mini Futures:  So far resistance at 2745 has stopped four rally attempts and I think the market must move lower to find buyers. A drop of 100 points or so from the 2755 top is still likely. The drop from 2878 at the January 26 top was the biggest point drop since the 2009 low but exceeds the 2015-16 drop by only 17 points. I am betting that the subsequent 2529 low will hold and that the ES will trade near 3100 later this year.

QQQ:  Support at 156 and upside target is 170 over the coming weeks.

TNX (ten year note yield): The 10 year yield is approaching its 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. This in turn means that investors will try to put the huge supply of central bank liquidity to work in risky assets. This process will drive world wide stock market prices higher.

Euro-US Dollar: The Euro nearly reached the 126 target.  Support now is at 122.50. Next upside target will be 130.

Dollar-Yen: Support at 108 has finally failed. Downside target now are 99 and then 90.

West Texas Crude Oil: I expect crude to hold support at 59. The next upside target will then be 74.

Gold:  The 1295 is support. Upside target is 1390.

Silver: Resistance is at 18.50. Silver is headed for 13.00 and below.

Google: GOOG is headed for 1250.

Apple:  AAPL is headed higher to 180 and above.

Facebook:  FB is likely to move higher into the 195-200 zone.

Twitter: TWTR reached the 34-36 target zone on earnings news.

Support is now at 26. After some sideways action I expect TWTR to move up to 48.

Alibaba: BABA should rally to 215 over the coming weeks.  

Visa: Headed for 135.