June S&P E-mini Futures: Today I begin analyzing and trading the
June ’16 contract. The complete
retracement of yesterday’s drop strengthens my view that the ES is headed above
last year’s highs. Next resistance above the market is 2014.
QQQ: The Q’s are headed for
112 and eventually to 120. Support now is at 101.
TNX (ten year note yield): Stock market prospects are improving. We
probably have seen the low 10 year yield for the year. In any case I think that
the 10 year yield will reach 3.00% during the next 12 months.
Euro-US Dollar: The market is headed lower. Downside
target is 0.96 over the coming months.
Dollar-Yen: Support at 116 has failed. It looks like a
new bear market has started. Next downside target is 108.
April Crude: The 24 level is long term support. The market
has moved above 35-36 resistance and 40-41 is the next stop.
April Gold: A
new bull market has begun in gold. The next upside target is 1315.
May Silver: I think the bear market in silver is over. Resistance
is at 16.25.
Google: Support is 675.
Apple: APPL
has probably made its low near 92 and is now headed for 134 and possibly
higher.
Facebook: Resistance is now 120. Support is 95.
Twitter: Twitter should bounce off of resistance near 24 and then drop
to 10.
Alibaba: Now headed back to 86.
Visa: Support is at 70.
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