Friday, January 08, 2021

Guesstimates on January 8, 2021


March S&P E-mini Futures:  This is a bull market. 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 315 upside target. Support is at 305 and next target is 325.

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 has been 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 is at 1800. New bull market highs above 2070  lie ahead.

Silver:  Support is 21.00. Upside target is 35.00

Apple: The 103 low is likely to hold. AAPL is headed for 145 and above.

Alibaba: BABA support at 250 failed and is now resistance. A drop to 175 lies ahead.

Amazon: Next upside target is 3700. Support is now 2850.

Facebook:  Next upside target is 306 then 325.

Google: Resistance is 1800 and support now is at 1450-1500.

Netflix: Upside target is 680. Support is 450.

Tesla: Tesla rallied above the 800 level yesterday so the upside target is now 1000. Support is 650.

Twitter: Upside target 75.

Visa: Upside target is 240. Support is at 175-180.

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