Monday, February 08, 2021

Guesstimates on February 8, 2021

 

March S&P E-mini Futures:  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 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: Support is still 29,000. Next upside target is 55,000

West Texas Crude Oil: A bull market is in progress. Upside target is 62. Support is now 49.

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: 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.

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

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