Tuesday, March 01, 2022

Guesstimates on March 1, 2022

March S&P E-mini Futures:  The ES rallied back above its January 24 low and this means that a rally to new highs has begun.

QQQ:  The drop below 334 did not continue and now the Q’s are back above their January 24 low. This is bullish action and is likely to mark the start of a rally to historical highs.  

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. First stop is 2.00% which has now been reached.

Euro-US Dollar: Resistance is still at 115.00.

Bitcoin: Resistance above the market is 44,000. Support now is 31,000.

West Texas Crude Oil: Crude reached its 98-99 target and is now likely to drop to 84 support.

Gold: Upside target is 1960-80 was reached and gold is now headed for 1800 or lower.

Silver:  No idea where silver is headed next.

Apple: Upside target is 200. Support is 125.

Alibaba: The 108 low has been broken and BABA is headed for 88.

Amazon: Support is 2500. Upside target is 3800.

Facebook:  Support at 200 has been recovered but there is probably another down leg ahead. Meantime resistance is at 225.

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

Netflix: Support now is 350.

Tesla: Downside target at 700 was reached. A big upswing above 1000 has begun.

Twitter: Downside target is 25.

Visa: Upside target is 250. Support still 195.

 

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