Monday, April 14, 2014

Guesstimates on April 14, 2014

June S&P E-mini Futures: I think a drop of at least 110-150 points is underway. Today’s range estimate is 1815-1834.
QQQ:  Downside target is 83.50. More weakness than that would probably break the 200 day moving average which would be a very bearish development.
TNX (ten year note yield): I think the market will move to 3.50% over the next few months.
Euro-US Dollar: The reaction is over and the euro is headed for 1.42.
Dollar-Yen: The dollar-yen is headed for 107.00.
May Crude:  If crude spends a day trading above 103 resistance I will look for continuation up to 111.
June Gold:  Resistance above the market is at 1320. A couple of closes above there would turn me bullish. .
May Silver: Resistance above the market is at 20.25. A couple of closes above there would turn me bullish.
Google:  Support is at 538 and if this fails a drop to 450-475 is likely.
Apple:  AAPL has been acting weaker than the market during 2014. A drop below its 200 day moving average, currently at 506, now seems likely. If it happens AAPL will be headed for 300 or lower..

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