Friday, April 22, 2016

Guesstimates on April 22, 2016

June S&P E-mini Futures: Support today is 2060-65 but a move above 2090 would mean that the drop from 2105.25 is over and that the ES is headed for 2110. The ES is on track to move above last year’s 2134 high over the next few months.
QQQ:  The 112 level is resistance but the Q’s are headed eventually to 120. Support now is at 108.
TNX (ten year note yield): We probably have seen the low 10 year yield for the year. 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: It looks like a new bear market has started.  The dollar-yen has reached its first downside target at 108. A rally to 111-113 is likely if 108 can hold.
May Crude: Resistance is at 45. A move above that level will make it likely that a new bull market in crude oil is underway.
June Gold:  A new bull market has begun in gold. The next upside target is 1315. Support is 1205.
May Silver: I think the bear market in silver is over. Resistance now is at 18.00.
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 drop to 10.
Alibaba: Now headed back to 86.
Visa: Support is at 70. Upside target is 90-95.

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