Friday, December 21, 2018
Guesstimates on December 21, 2018 - no guesstimates on Monday, Tuesday, or Wednesday
March S&P E-mini Futures: The drop below 2500 looks very bearish on longer term price charts and the ES had fallen more that 200 points beneath its 200 day moving average. I think a bear market has started. But everyone else can see this too. So I doubt the drop will continue much further before a multi week rally begins and carries the market pretty close to that 200 day average. Subsequently continuation down to 2270 will be likely.
QQQ: The Q’s have reached support at 150 and will now probably rally to 165.
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 resistance zone has failed. Next stop is 1285.
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. A drop visibly below 30 would cancel this bullish outlook.
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.