March S&P E-mini Futures: A drop of 10% or so still appears to be in progress. But a swing back above Monday’s 3912 high would cancel this prognosis. In any case 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: Next support is 290.
TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. First stop is 2.00%.
Euro-US Dollar: A swing up to 125.00 is likely.
Dollar-Yen: Still confined within a 101-115 trading range.
Bitcoin: A drop close to 40,000 support is likely before the next upside target at 72-75,000 is reached.
West Texas Crude Oil: Upside target is now 73. Support is 55.
Gold: Support at 1800 has failed and is now resistance. Next downside target is 1600.
Silver: Support is 21.00. Upside target is 35.00
Apple: The 145 upside target was reached. Support at 125 is looking wobbly. Next support below there is 105.
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: Support at 725 failed. A drop to 550 is probably underway.
Twitter: Support at 70 has failed. Next support is 55.
Visa: Upside target is 240. Support is at 175-180.