Guesstimates on July 24, 2020

September S&P E-mini Futures:  The ES stopped 16 points shy of the 3300 upside target. The subsequent drop is likely to reach 3180. A break much below 3180 would mean that a drop of 300 points is underway. Short term bearish thoughts aside, this is a bull market. The March 23 low at 2174 ended the drop from 3397 – the Corona Crash. I think the Fed’s QE program is very bullish long term and that the Corona Crisis has passed its peak. The 2174 low will hold for several years.
QQQ:  Support is 235. The next upside target is 285.
TNX (ten year note yield): There is a good chance that the 0.40% level was the low yield of this nearly 40 year decline in bond yields and that yields will soon start a long march into higher ground.
Euro-US Dollar: Resistance at 115.50 is looking wobbly. If it fails a rally back to 125.00 is likely.
Dollar-Yen: Still confined within a 101-115 trading range.
West Texas Crude Oil: A new bull market has begun. Next upside target is 44. Support now is 32.
Gold: Gold has support in the 1675-1700 zone which so far has held. New historical highs lie ahead with the first step up to 1923 and the second to 2150.
Silver: It looks like the 12.50 downside target ended the long silver bear market. Next upside target is 25.00
Google: Upside target is 1600.
Apple: Next upside target is 395 has been reached. Support now is at 350.
Amazon: Upside target at 3000 has been reached and exceeded. Next upside target is 3700. Support is 2500.
Facebook:  Upside target is 290.
Twitter: Upside target 75.
Alibaba: BABA now headed for 305.
Visa: Upside target is 240.