Tuesday, July 21, 2015

Guesstimates on July 21, 2015

September S&P E-mini Futures: Today’s range estimate is 2113-2122. I think this upswing will carry the ES much higher. A conservative upside target is 2250 over the next few months.
QQQ:  Upside target is now 120.
TNX (ten year note yield): I think that the market yield is headed up to 3.00%.
Euro-US Dollar:  The market has again dropped visibly below 1.10 support. I think it is headed to 0.96 over the coming months.
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 127-28 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. Meantime support is at 45.
August Gold:  Gold has made a new bear market low but is getting close to long term support at 1030. I think a new bull market is likely to emerge from a low near that support level.
September Silver: I think the bear market in silver may be over. If so support is at 13.50.
Google:  The 705 level is resistance and support is at 615. The longer term trend is still upward.
Apple:  There is no reason for thinking the bull market is over. Support is at 121.
Facebook: Upside target at 90 has been exceeded. Next upside target is 110. Support is at 80.
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.

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