Guesstimates on August 17, 2016

September S&P E-mini Futures: The swing up from the Brexit low is likely to carry into the 2250-2300 zone. Support today is still at 2168 and a drop to 2151-54 is an even bet.

QQQ:  Next upside target is 120. Support is at 112.

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

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 is 104-106. Next downside target is 95.

September Crude: Crude is in a bull market. Support at 40-41. If this fails then crude will be headed for 35. Next upside target is 56-58.

December Gold:  A bull market is underway in gold. Support is now at 1280. Next upside target is 1420.

September 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. Upside target is 880.

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: Support is at 120. Next upside target is 145.

Twitter: The 18-20 zone is an important barrier but the latest rally is trying to overcome it. If TWTR spend more than 2 days trading above 21 I will conclude that a new bull market has begun.

Alibaba: Support is now at 90 and the next upside target is 103.

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