June S&P E-mini Futures: The ES is approaching the 2710-18 resistance zone. From there a drop of 20-30 points is likely to start. The subsequent upside target will be 2808. The swing up from the May 3 low at 2591.25 is likely to carry a long way. My ultimate upside target is 3100 later this year.
QQQ: Support is 158 and the 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 nearly reached the 126 target. Support is at 119. Next upside target will be 130.
Dollar-Yen: Support at 108 has failed and is now resistance. Downside targets are 99 and then 90.
West Texas Crude Oil: Support is at 59. The 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 198 and above.
Facebook: Facebook’s low at 149 is likely to hold for quite a while. I think FB is on its way above 195.
Twitter: TWTR reached the initial 34-36 target zone. 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.