Wednesday, February 13, 2019

Guesstimates on February 13, 2019

March S&P E-mini Futures: The ES has established itself above 2737.75 resistance which is now support. Next upside target is 2795. If it is reached my bear market hypothesis will have to be abandoned.
QQQ:  Resistance is now at 167 has failed.  Next upside target is 174-76. Support is 162. This is looking less and less like a bear market.
TNX (ten year note yield): The 10 year yield should end its decline in the 2.30 – 2.50% zone.
Euro-US Dollar: Resistance above the market is 115.50. The longer term picture is bearish.
Dollar-Yen: The 109 resistance level has failed. Upside target is now 112.50. The failure of 109 resistance kills my bear market hypothesis and makes it likely that the Dollar-yen is headed above 115.
West Texas Crude Oil: The resistance level at 51 has failed so a swing up to 59 is now likely. A rally past 59 would probably mean a return to 76 and higher.
Gold: The market is headed for 1365.
Silver: Silver resistance is at 16.50.
Google: Resistance above the market is 1150.
Apple:  AAPL is likely to drop as low as 120 during the coming months.
Facebook:  FB is likely to stay below 175.
Twitter: TWTR is has established a 27-36 trading range. A downside breakout from this range is likely within a couple of months and will probably carry TWTR to 12.
Alibaba: There is a good chance that BABA is headed for 100.
Visa: Support remains at 125 but a drop to 95 is likely over the next few months.

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