Thursday, July 30, 2015

Guesstimates on July 30, 2015

September S&P E-mini Futures: Today’s range estimate is 2086-2099. As long as no weakness below 2080 develops I think the market will move up to 2126.25 and above.
QQQ:  Support is at 108. Upside target is 120.
TNX (ten year note yield): I think that the market yield is headed up to 3.00%.
Euro-US Dollar:  The market has 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 closer 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:  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: TWTR broke below 35 support and is now headed for 25.
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.

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