Thursday, June 12, 2014

Guesstimates on June 12, 2014

June S&P E-mini Futures: Today’s range estimate is again 1935-1946. A drop below 1940 would meant that the ES has started a 30-40 point break. The market is approaching the 1963 upside target and once it is reached I think a drop to well below 1900 will begin.
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:  It looks like crude will close above 104.48 today. My upside target is 112.
August 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:  Apple stock split 7 for 1 after the close last Friday. The historical high is now about 100.70. AAPL had moved past all resistance which I can calculate below that top. It is well above rising 50 and 200 day moving averages. I now think AAPL is headed above 100, probably to 103 or so.

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