Wednesday, December 01, 2021

Guesstimates on December 1, 2021

December S&P E-mini Futures:  Higher prices are still likely over the coming weeks and months. The Fed’s QE program despite being tapered is still very bullish long term and the Corona Crisis is over. The 2174 low of March 2020 will hold for several years. 

QQQ:  Support is at 380. Next upside target is 415.

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: Downside target at 112.50 has been reached. Resistance is 115.00.

Bitcoin: Next upside target is 76,000. Support is 52,00.

West Texas Crude Oil: Support at 72-73 failed Friday and acted as resistance yesterday. So 60 is now the downside target.

Gold: Upside target at 1870 has been reached. Support at 1800 is appears to have failed so the next support is at 1750. Next upside target is 1960.

Silver:  Silver has regained support at 23.00. Upside target is 36.00.

Apple: Support is 125.

Alibaba: Resistance is 175 and support at 148 has failed. Next downside target is 110.

Amazon: Upside target at 3700 was reached. Support now is 3000.

Facebook:  FB has broken below 340 support. Next downside target is 295.

Google: Next upside target is 3300. Support is now 2400.

Netflix: Upside target at 680 has been reached. Support is 560.

Tesla: The upside target at 1250 has been reached. Support is 900-950. Next upside target is 1460.

Twitter: Downside target is 45.

Visa: Downside target at 195 has been reached.



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