Monday, April 12, 2021

Guesstimates on April 12, 2021


June S&P E-mini Futures:  The Fed’s QE program is still very bullish long term and the Corona Crisis has passed its peak. The 2174 low of March 2020 will hold for several years and the ES is likely to trade up to or past 4500 by the end of 2021. 

QQQ:  Upside target is 345.

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 is still likely but only so long as long term support at 117 holds.

Bitcoin: A wing above 62000 would probably continue into the 72-75,000 range. But meantime a drop into the 40-45000 zone is still likely.

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 23.00. 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 2500.   

Netflix: Upside target is 680. Support is 450.

Tesla: So far 550 support has held. Resistance is 725.

Twitter: Resistance is at 70. Next support is 55.

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

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