Guesstimates on May 20, 2014

June S&P E-mini Futures: Today’s range estimate is 1879-1893. I think the ES is headed above 1900 but a close below 1859 would turn me bearish. Such action would probably be associated with drops in the Dow and S&P 500 below their 50 day averages.

QQQ:  Upside target is 95.00.

TNX (ten year note yield): I think the market will move to 3.50% over the next few months.

Euro-US Dollar: The euro is headed for 1.42. Support is at 1.3670.

Dollar-Yen: The dollar-yen is headed for 107.00.

July Crude:  A close above the 104.48 high would mean the market is headed for 111. In the meantime I am sticking with my bearish stance.

June Gold:  Resistance above the market is at 1320.Downside target is 1210.

July Silver: Resistance above the market is at 20.25. Silver is headed for 13.00.

Google:  538 is now resistance above the market. A drop to 450-475 likely.

Apple:  AAPL has reentered my 600-610 target zone. But I think a drop to 540-550 is imminent.