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Guesstimates on December 22, 2022


March S&P E-mini Futures:  The drop from 4180 has been the biggest in the bull market thus far. If the ES can recover above 3850 the stage will be set for another up leg. The 650 point rally from the October low is only the first leg of a swing up to new highs.

QQQ:  Support is now 266. Next upside target is 305.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. The 4.35% target has been reached. Support now is at 3.40% and next upside target is 4.95%.

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

Bitcoin: Now headed down to 12,000. Resistance still 26,000.

West Texas Crude Oil: Support is at 72. Next upside target is 104.

Gold: Support is 1780. A swing up into the 1950-2000 range is in progress.

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

Alibaba: Resistance is 125. Support is 45.

Amazon: Support at 105 failed. Next support is 87.

Google: Support at 100 failed. Next support is 88.

Meta:  Support at 126 failed. Next support is 90.

Netflix: Upside target is now 375.

Tesla: Support at 150 has failed. A drop to 100 is likely.

Visa: Support is 163. Upside target is 250.

 



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