Thursday, April 23, 2015

Guesstimates on April 23, 2015

June S&P E-mini Futures: Today’s range estimate is 2087-2103. I think the ES is about to make a move to new bull market highs.
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 expect TWTR to move up to 70.
Alibaba: BABA is headed for 68. Resistance above the market is at 86.
Visa: Upside target is 72. Support is 63.

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