Monday, December 17, 2018
Guesstimates on December 17, 2018
March S&P E-mini Futures: The ES is headed for 2587 and probably to 2529.
QQQ: The Q’s have dropped nearly all the way back to last Monday’s low. I think they are headed for their February low at 150.
TNX (ten year note yield): Support remains at 2.70%. Next upside target is 3.50%. Rising interest rates are good news for the stock market because they signify 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: Downside target is 103.
Dollar-Yen: A swing up to 117 is likely.
West Texas Crude Oil: A drop visibly below 50 would be likely to continue to 43 and possibly lower.
Gold: The 1250-60 zone is likely to halt the rally and the downside target remains 1125.
Silver: Silver is headed for 12.50 and possibly lower.
Google: I think GOOG is headed for 950.
Apple: AAPL is now headed for 150.
Facebook: FB is likely to hold support at 125.
Twitter: TWTR has reestablished itself above 30 in the face of the tech massacre and is now likely to return to 48.
Alibaba: There is a good chance that BABA has made its low in the 130-135 zone. A rally to 175 is underway.
Visa: Support remains at 125.