Guesstimates on June 20, 2012

September S&P E-mini Futures: Today's range estimate is 1350-1367. A move to new bull market highs is underway.  

QQQ:  A move to new bull market highs is underway.

TNX (ten year note yield):  The 10 year yield is trading below  the low of its recent multi-month trading range. I suspect that QE III is just around the corner. If so yields will head back up to 3.00% and higher.   

Euro-US Dollar: The market has bounced off of 1.2250 support. Resistance above the market is now at 1.2760. EU survival will require a much lower euro than we see now. I think the market will eventually drop well below 1.1500.   

Dollar-Yen: This market is headed for 75 and lower.

July  Crude: The market is headed  down to  75.   

GLD – August Gold:   The market has dropped to the vicinity of the September and December low points at 1544 and 1529. I think a sustained up move is underway.  

SLV - July Silver: A sustained move up is underway.

Google: Google should hold support near 562 and then  resume its move up to 750.

Apple: So far AAPL has held well above its low at 528 (I think the reported 522.16 low was a bad tick!) even while the S&P and the Dow broke below their corresponding lows. This is a very bullish development. It makes me think the AAPL is now in fact headed above its 644 top.