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Guestimates on December 5, 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 365. TNX (ten year note yield): Long standing upside target at 4.95% was 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: The 36,000 target has been left behind and is now support. Next stop 50,000. West Texas Crude Oil: It looks like support at 77 has failed. This makes the downside target 62. Gold:  The 2150 upside target was reached and gold then dropped below support at 2070. Next support is 1980-2000. I suspect that the long bull market in gold is over. 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. Nvidia: Upside target is 550. Support now is 400. Tesla: TSLA has upside target at 350. Support now is 180. Visa: Next upside target is 285. Support is 215.    
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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 365. TNX (ten year note yield): Long standing upside target at 4.95% was 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: The 36,000 target has been left behind and is now support. Next stop 50,000. West Texas Crude Oil: It looks like support at 77 has failed. This makes the downside target 62. Gold:  The 2150 upside target was reached and gold then dropped below support at 2070. Next support is 1980-2000. I suspect that the long bull market in gold is over. 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. Nvidia: Upside target is 550. Support now is 400. Tesla: TSLA has upside target at 350. Support now is 180. Visa: Next upside target is 285. Support is 215.    
Guestimates on December 5, 2023
 
 
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