March S&P E-mini Futures: A drop visibly below 3700 at this juncture will probably mean that a swing down of 10% or so is underway. But even then the bull market will only be briefly interrupted. The Fed’s QE program is very bullish long term and the Corona Crisis has passed its peak. The 2174 low last March will hold for several years and the ES is likely to trade up to or past 4500 by the end of 2021.
QQQ: The Q’s have reached the next target at 325. Support is 312. Continuation upward will meet resistance at 350.
TNX (ten year note yield): Yields are in the early stages of a long march to higher ground.
Euro-US Dollar: A swing up to 125.00 is likely.
Dollar-Yen: Still confined within a 101-115 trading range.
Bitcoin: Upside target at 40,000 was reached. Support is still 29,000. Next upside target is 55,000
West Texas Crude Oil: A bull market is in progress. Upside target at 50-55 has been reached. Support is now 44.
Gold: Support at 1800 has held so far. As long as it does new bull market highs above 2070 lie ahead.
Silver: Support is 21.00. Upside target is 35.00
Apple: The 145 upside target has been reached. Support now is at 125.
Alibaba: BABA resistance at 252 failed but there is a secondary level at 275 which will probably hold. A drop to 175 lies ahead.
Amazon: Next upside target is 3700. Support is now 2850.
Facebook: Next upside target is 325. Support is 235.
Google: Resistance at 1800 failed and is apparently morphing into support. But if not then a swing down to next support at 1600 will be likely.
Netflix: Upside target is 680. Support is 450.
Tesla: The upside target is now 1000. Support is 725.
Twitter: Upside target 75.
Visa: Upside target is 240. Support is at 175-180.
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