Guesstimates on May 26, 2016

June S&P E-mini Futures: The 2094 level is still resistance today while 2080 is support. The market is headed above 2105 and I expect the ES to move above last year’s top at 2134 during the coming months.

QQQ:  The 112 level is resistance but the Q’s are headed eventually to 120. Support now is at 104.

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 Euro turned downward without moving above last year’s 1.17 top and I still think that the ECB’s QE policy will ultimately drop the Euro below par.

Dollar-Yen: A bear market is underway.  The last rally stopped in the 111-113 resistance zone and I think this one will too.

July Crude: Crude is in a bull market. Next upside target is 55. Support is at 43.

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:  I still think the bull market in APPL is intact. However should AAPL start spending time below 90 I think continuation down to 70 will become likely.  

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.