Monday, June 01, 2015

Guesstimates on June 1, 2015

June S&P E-mini Futures: Today’s range estimate is 2103-2116. I now think that the market is headed down into the 2080-90 range. But strength above 2116 would change my mind about this.
QQQ:  Upside target is 113.
TNX (ten year note yield): I think that the market is headed up to 3.00%.
Euro-US Dollar:  It looks like the Euro has broken support at 1.10. This means that the market is headed 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.
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.
August 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 has moved above 90 resistance and now appears to be headed back to its all-time high of 120.
Visa: Upside target is 72. Support is 63.

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