Guesstimates on July 7, 2016

September S&P E-mini Futures: The Brexit drop ended at 1981.50 and the ES is headed above last year’s top at 2134. Support is now at 2082.

QQQ:  The 112 level is resistance and support is at 104.

TNX (ten year note yield): The market has dropped below the 2012 low yield of 1.39% but I think a substantial advance in yields in imminent.

Euro-US Dollar: I still think that the ECB’s QE policy will ultimately drop the Euro below par.

Dollar-Yen: A bear market is underway. Resistance now is 104-106. Next downside target is 95.

August Crude: Crude is in a bull market. Next upside target is 55. Support is at 45.

August Gold:  A bull market is underway in gold. Support is now at 1250. Next upside target is 1420.

July Silver: Silver exceeded the 20.00 target by more than a dollar. Next upside target is 25.00. Support 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: Upside target is 125-127. Meantime support is at 110.

Twitter: Twitter should drop to 10. Resistance is at 16.25.

Alibaba: Now headed back to 86.

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