Friday, March 20, 2020

Guesstimates on March 20, 2020

June S&P E-mini Futures:  The market’s inability to hold onto rally gains leads me to conclude that another down leg is developing with downside target 2150. Bearish sentiment and volatility are both very high. I still think that very high levels of bearish sentiment and volatility mean that a very big and important low is imminent.
QQQ: Support is now 165.
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: Support now is 18 with resistance at 30.
Gold: It looks like an extended drop has begun, one likely to take gold back to vicinity to 1000.
Silver: Silver has reached the 12.50 downside target but will probably continue lower to 9.50.
Google: Support is 1000.
Apple: Support is 225.
Amazon: 1650 is support.
Facebook:  Support is 125.
Twitter: Support at the 28 level has failed. Downside target now 13.
Alibaba: Support is 150.
Visa: Support is 125.

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