June S&P E-mini Futures: Resistance
is at 2766. If it holds the ES is likely to drop to 2705. In any event the ES
is likely to trade near 3100 later this year.
QQQ: Support now is at 164 and next upside target is 180.
TNX (ten year note yield): It looks like the reaction from the 2.95%
upside target ended near 2.80%. Next upside target is 3.20%. I still think this
is good news for the stock market because it means that confidence in future
growth is being restored. This in turn means that investors will try to put the
huge supply of central bank liquidity to work in risky assets. This process
will drive world wide stock market prices higher.
Euro-US Dollar: The Euro has nearly reached the 126 target. Support remains at 122.50. Next upside target
will be 130.
Dollar-Yen: Support at 108 has finally failed.
Downside target now are 99 and then 90.
West Texas Crude Oil: I expect crude to hold support at 59. The
next upside target is 74.
Gold: The 1295 level is
support. Upside target is 1390.
Silver: Resistance is at 18.50. Silver is headed for 13.00 and below.
Google: GOOG is headed for 1250.
Apple: AAPL
is headed higher to 180 and above.
Facebook: FB is likely to move
higher into the 195-200 zone.
Twitter: TWTR reached the 34-36 target zone on earnings news.
Support is at 26. I
expect TWTR to move up to 48.
Alibaba: BABA should rally to 215 over the coming weeks.
Visa: Headed for 135.
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