Wednesday, February 17, 2021

Guesstimates on February 17, 2021


March S&P E-mini Futures:  A drop of 10% or so appears imminent. That said, 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:  Support is 324. 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: Support is now 40,000. Next upside target is 55,000

West Texas Crude Oil: Upside target at 62 has nearly been reached. Support is 53.

Gold: Support  at 1800 is being threatened once more.  But as long as it holds 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: The 1800 level is support. Next upside target is 2150.   

Netflix: Upside target is 680. Support is 450.

Tesla: The upside target is now 1000. Support is 725.

Twitter: Upside target 75 has been reached. Support is now 55. A swing to 80 and above will probably continue to 105.

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

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