Thursday, May 29, 2014

Guesstimates on May 29, 2014

June S&P E-mini Futures: Today’s range estimate is 1904-1917. The ES has moved above 1900 on the sixth day of a largely uncorrected swing upward. I now think a drop of 30-40 points is likely but I also expect a move up to 1963 over the coming weeks
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 has definitely broken 1.3670 support and the downside target is 1.3450.
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:  Googl  has moved above  the two important resistance levels I have been watching at 538 and 555 so I conclude that it is now headed for 620 and higher.
Apple:  AAPL has moved well above my 600-610 target zone. Resistance is at 635 and support now is 560.  

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