Wednesday, March 11, 2020

Guesstimates on March 11, 2020

March S&P E-mini Futures:  I think there is a good chance the drop from 3397 will end near 2600. The subsequent rally will probably carry the ES up into the 3500-3600 zone.
QQQ: Support is now 180-85.
TNX (ten year note yield): Downside target is 0.00.
Euro-US Dollar: Resistance above the market is 115.50. The longer term picture is bearish.
Dollar-Yen: The dollar-yen has dropped back below 108 support. Downside target is 100.
West Texas Crude Oil: The Saudis started a price war which so far has dropped crude as low as 28. Support now is 25 with resistance at 37.
Gold: Next upside target is 1750. Support is 1530.
Silver: Silver is woefully underperforming gold. I am abandoning my short term bullish outlook for silver. Downside target is 12.50.
Google: Support at 1250 has failed. Next support is 1150.
Apple: Support is 250.
Amazon: Upside target is 2300. Support is 1750.
Facebook:  Support at 175 has failed. Next support at 159.
Twitter: Support at the 28 level has held and a rally to 55-60 is underway.
Alibaba: BABA is headed for 245. Support is 185.
Visa: Support is 165.

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