September S&P E-mini Futures: Today’s range estimate is 2054-2077. The
200 day moving average stands at 2045 in the ES. I will stay generally bullish
unless and until the ES starts spending time below that level.
QQQ: Upside target is 113.
TNX (ten year note yield): I think that the market yield is headed
up to 3.00%.
Euro-US Dollar: The
Greek banking crisis makes it likely that the ECB will pursue an even more
aggressive QE policy. If the Euro can hold above 1.10 then I think will
continue upward into the 1.18-1.20 zone. Otherwise the bear market has already
resumed and will put the Euro below 1.00.
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
while 127 is near term resistance.
August Crude: I
am beginning to suspect that the bear market is oil is over and that this long trading
range is a precursor to a sustained advance.
August Gold: I am
beginning to suspect that this long trading range is the precursor to an
extended advance and that the bear market is gold may be over.
July Silver: I think the bear market in silver may be
over.
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 has broken support at 85 and I think it is now on its
way to 70.
Visa: Upside target is 72. Support is 63.
