June S&P E-mini Futures: Today’s range estimate is 2096-2115. The ES
responded bullishly to the weaker-than-expected employment number and has risen
6 points above the 2100 level. It now looks like the bull market has resumed
and I think the market will be trading above 2120 within a few days.
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. Crude has reached 62 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 86.
Visa: Upside target is 72. Support is 63.
1 comment:
Carl,
Im new to your blog. Just wondering if you have any advice on a good publication for microcap stocks? It seems that most of the Analysts like Red Chip Review etc... have all gone the pay to play route and are being compensated in cash or shares by the companies they feature. Adding to the pump and dump so typically associated with microcaps making it harder for the legitimate once to break out.
thank you
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