June S&P E-mini Futures: The
ES is on the way to its last top at 2807.25 and is likely to trade near 3100
later this year.
QQQ: Support is at 160 and next upside target is 180.
TNX (ten year note yield): Next upside target is 3.20%. I 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 failed. Downside target
now are 99 and then 90.
West Texas Crude Oil: Support is 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: Facebook’s low
yesterday was 149. The high volume drop below its 200 day moving average is
potentially a long term bearish sign. But I am more inclined to regard it as
climactic action triggered by bad news which has little long term significance.
Support for this interpretation is the The Economist’s bearish cover
story on FB in its current issue, a bullish indicator from a contrarian point of view. If I am correct FB is on its way to and above
is 195 top.
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.
No comments:
Post a Comment