Friday, May 01, 2015

Guesstimates on May 1, 2015

June S&P E-mini Futures: Today’s range estimate is 2079-2095. The market dropped briefly below the 2075 midpoint of the March-April rally yesterday. I suspect that yesterday’s low will be broken within the next few days and if it is the ES will drop to 2020 if not lower. But strength above the 2095 midpoint of the drop from 2119.75 would be bullish and lead me to expect new bull market highs next week.
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. Resistance above the market is at 1.12 has been reached. I think the Euro will stall in this area and then resume its bear market.
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. 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.


janet said...

Carl did you get my check?? Janet

Carl Futia said...

it came today - thanks!