Wednesday, December 19, 2018
Guesstimates on December 19, 2018
March S&P E-mini Futures: The failure of the ES to move up significantly from 2529 support is bearish and means this support is likely to fail. If it does fail a drop to 2475 would follow. Such a drop would make it likely that a bear market has started. Downside target for a bear market right now is 2270 or below.
QQQ: The Q’s are probably headed for their February low at 150.
TNX (ten year note yield): Support remains at 2.70%.
Euro-US Dollar: Downside target is 103.
Dollar-Yen: A swing up to 117 is likely.
West Texas Crude Oil: Support at 50 has failed and this level is now resistance. Downside target is 42-43.
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.