Monday, August 08, 2022

Guesstimates on August 8, 2022

September S&P E-mini Futures:  The still prevalent bearish sentiment makes it likely that the 3638 low ended the drop from the January top at 4808. A swing up to new historical highs is underway.

QQQ:  Next upside target at 325 has been reached. Support is at 305 and next target is 345. The drop from the all time high at 408 ended at the 269 low.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. Support is at 2.70%. Odds now favor a swing up to 4.35%.

Euro-US Dollar: Downside target is 95.00. Resistance still at 108.00.

Bitcoin: Downside target at 19,000 was reached. Resistance is at 26,000.

West Texas Crude Oil: A drop to 75-80 is likely.

Gold: Downside target is 1625. Resistance is 1830.

Apple: Upside target is still 200. Support is 125.

Alibaba: Resistance is 125.

Amazon: Support is 100.

Google: Support is 100.

Meta:  Support is 160. Resistance is 235.

Netflix: Downside target at 160 was reached and 220 is resistance.

Tesla: TSLA is headed back to 1250.

Twitter: Resistance at 41 has failed. Next upside target is 54.

Visa: Upside target is 250.

No comments: