Guesstimates on November 16, 2023
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December S&P E-mini futures: Inflation is coming down and the Fed is
unlikely to tighten any more. I expect to see the ES trade well above 5000 over
the next 8 months.
QQQ: Upside target is 395. Support is 338.
TNX (ten year note yield): Long standing upside
target at 4.95% has been reached. Support is now 4.20% while next upside target
is 5.40%
Euro-US Dollar: The Euro is likely to drop
to support at 100. Meantime resistance is 112.
Bitcoin: Support is 26,000. The 36,000
target has been reached. Next stop 50,000.
West Texas Crude Oil: Upside target remains
100. Support at 77 is wobbling. If it fails then down to 62.
Gold: Upside target is 2070. Support is 1920.
Apple: Upside target at 200 was reached.
Support is now 165.
Amazon: Support is 110. Upside target is
175.
Google: Upside target is 150-55. Support
is 90.
Meta: Support is 250 while next
upside target is 375.
Netflix: Next upside target at 450 has
been reached. Support now is 350.
