Guesstimates on May 5, 2015

June S&P E-mini Futures: Today’s range estimate is 2098-2113. I think the market is headed for new bull market highs. Upside target for the ES is 2160.  

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.