Thursday, July 08, 2021

Guesstimates on July 8, 2021


September S&P E-mini Futures:  The Fed’s QE program is still very bullish long term and the Corona Crisis is over. The 2174 low of March 2020 will hold for several years and the ES is likely to trade up to or past 4500 by the end of 2021. 

QQQ:  Support is 325. Resistance is now 362.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. First stop is 2.00%.

Euro-US Dollar: It appears that the Euro has made a lower top and is now on its way below 117 support. Downside target is 112.50.

Bitcoin: A drop to 25,000 is now likely. Resistance is 45,000.

West Texas Crude Oil: Upside target at 73 has been reached. Resistance is at 78. Support is 66.

Gold: The upside target is 2150 but only so long as 1755 support holds. If it fails then a drop to 1600 will follow

Silver:  Support is 23.00. Upside target is 35.00

Apple: The145 level is the upside target. Support is 108.

Alibaba: BABA resistance at 252 failed but there is a secondary level at 275 which will probably hold. A drop to 175 lies ahead.

Amazon: Next upside target at 3700 has been reached. Support now is 3000.

Facebook:  Support is at 300. Upside target at 355 has been reached. A prolonged stall in and below the 355-365 zone is likely now.

Google: The 1800 level is support. Upside target at 2500 has been reached.  

Netflix: Upside target is 680. Support is 450.

Tesla: Resistance is 680. If it holds next downside target will be 400.  

Twitter: Resistance at 62 has failed. Next upside target is 84.

Visa: Support is 200. Upside target is 250.

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