Tuesday, August 05, 2014

Guesstimates on August 5, 2014

September S&P E-mini Futures: Today’s range estimate is 1905-28. Initial downside target is 1895 but I think the market will ultimately drop at least to its 200 day moving average currently in the 1850-60 zone.
QQQ: Downside target is 90.00.
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 the low of the 1.35-1.37 trading range and is now headed for 1.33 or lower.
Dollar-Yen: The dollar-yen is headed for 107.00.
September Crude:  Crude has dropped decisively below 102 support and is now headed for 90.
August Gold:  Gold is hovering at 1285 support but is slipping below its 50 day moving average. I now think gold is headed below 1100.
September Silver: Silver is headed down once more. My bear market target remains 13.00.
Google:  GOOGL is headed for 620 and higher.
Apple:  Apple’s stock split makes its historical high 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 108 or so.

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