Tuesday, May 19, 2015

Guesstimates on May 19, 2015

June S&P E-mini Futures: Today’s range estimate is 2120-2134. I think the ES is headed for 2146. Support beneath the market is at 2120.
QQQ:  Upside target is 113.
TNX (ten year note yield): I think that the market is headed up to 3.00%.
Euro-US Dollar:  Resistance above the market at 1.12 has been broken. The Euro is now headed for 1.18-19.  
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.
July Crude:  The longer term trend in oil prices is downward and should carry this market down close to the 2008 low at 33. Crude has reached 64 resistance and I think the market will stall here and then head 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 90.
Visa: Upside target is 72. Support is 63.

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