June S&P E-mini Futures: Today’s range estimate is 2079-2099. A drop
below the 2075 midpoint of the March-April rally would be very bearish.
QQQ: Upside target is 113.
TNX (ten year note yield): I think that the market is headed up to
3.00%.
Euro-US Dollar: The ECB’s quantitative easing program
will drop the euro below 1.00 over the coming months. Near term downside target
is 1.03. Resistance above the market is at 1.12.
Dollar-Yen: Support is at 116. The bull market has
much further to go over the coming months. 140-45 is my longer term target
zone.
June Crude: The
longer term trend in oil prices is downward and should carry this market down close
to the 2008 low at 33. Resistance above the market at 55 has been broken so I
think crude will rally to 62 before turning lower.
June Gold: The
odds favor continuation downward to 1040 over the coming months. Resistance
above the market is at 1215.
July Silver: I think silver is headed for 13.00.
Google: I think the longer
term trend is upward and expect GOOGL to hit 670.
Apple: There
is no reason for thinking the bull market is over. New upside target is 140 but
160 should not be far behind. Support is at 121.
Facebook: Upside target is 90. Support is 72.
Twitter: I still expect TWTR to move up to 70. Support is at 35.
Alibaba: BABA is headed for 68. Resistance above the market is at 86.
Visa: Upside target is 72. Support is 63.
