Guesstimates on April 28, 2016

June S&P E-mini Futures: Support today is still at 2060-65. 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 106.

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: A bear market is underway.  The dollar-yen reached its first downside target at 108 and then rallied into the 111-113 resistance zone, stopping at 111.82. The next leg down should carry to 104.

June Crude: Resistance at 45 has been reached. 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.

July 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 at 120 has been reached but FB has also staged an upside breakout from a trading range so I think continuation up to 125-127 is likely.

Twitter: Twitter should drop to 10.

Alibaba: Now headed back to 86.

Visa: Support is at 70. Upside target is 90-95.