Guesstimates on July 27, 2015

September S&P E-mini Futures: Today’s range estimate is 2049-70. The ES now appears to be headed for the July 6 low at 2034. Any obvious weakness below 2030 would be very bearish.

QQQ:  Support is at 108. 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:  Support at 675 has been broken and GOOG will probably drop to 635 before its bull market resumes.

Apple:  There is no reason for thinking the bull market is over. Support is at 121.

Facebook: 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 is on its way to 70. Resistance above the market is at 85.

Visa: Upside target at 72 has been reached but there is no sign that the advance is over. Next stop is 80. Support is still 63.