Guesstimates on May 31, 2022

June S&P E-mini Futures:  Sentiment is still very bearish. This is good reason for thinking the drop from 4800 ended at 3808. The subsequent up swing will carry the ES to new historical highs.

QQQ:  Support is 284.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. Support is at 2.00%. Odds favor a swing up to at least 3.75% during the next few months.

Euro-US Dollar: Downside target at 103.75 has been reached. Resistance is near 108.00.

Bitcoin: Support at 36,000 failed and is now resistance. Downside target is 19,000.

West Texas Crude Oil: Resistance at 108 failed and is now support. Next upside target is 118.

Gold: The picture is looking increasingly bearish longer term. Support now is 1790.

Apple: Upside target is still 200. Support is 125.

Alibaba: BABA reached 75 support. Resistance is 125.

Amazon: Support is 2150.

Facebook:  Support is 180. Resistance is 235.

Google: Support is 2100.

Netflix: Downside target is now 160 and 275 is resistance.

Tesla: The 680-720 support zone failed so downside target is now 550.

Twitter: Resistance is in the 55-60 range. Support is 36.  

Visa: Upside target is 250. Support still 195.

Guesstimates on May 27, 2022

June S&P E-mini Futures:  Sentiment is very bearish. This is good reason for thinking the drop from 4800 ended at 3808. The subsequent up swing will carry the ES to new historical highs.

QQQ:  Support is 284.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. Support is at 2.00%. Odds favor a swing up to at least 3.75% during the next few months.

Euro-US Dollar: Downside target at 103.75 has been reached. Resistance is near 108.00.

Bitcoin: Support at 36,000 failed. Downside target is 19,000.

West Texas Crude Oil: Support is 93. Resistance at 108 has failed. Next upside target is 118.

Gold: Support at 1900 has failed after another failed attempt to push past 2100. The picture is looking increasingly bearish longer term. Support now is 1790.

Apple: Upside target is still 200. Support is 125.

Alibaba: BABA reached 75 support. Resistance is 125.

Amazon: Support is 2150.

Facebook:  Support is 180. Resistance is 235.

Google: Support is 2100.

Netflix: Downside target is now 160 and 275 is resistance.

Tesla: The 680-720 support zone failed so downside target is now 550.

Twitter: Resistance is in the 55-60 range. Support is 36.  

Visa: Upside target is 250. Support still 195.

 

Guesstimates on May 26, 2022

June S&P E-mini Futures:  Sentiment is very bearish. This is good reason for thinking the drop from 4800 ended at 3808. In any case, once a low is established the subsequent up swing will carry the ES to new historical highs.

QQQ:  Support is 284.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. Support is at 2.00%. Odds favor a swing up to at least 3.75% during the next few months.

Euro-US Dollar: Downside target at 103.75 has been reached. Resistance is near 108.00.

Bitcoin: Support at 36,000 failed. Downside target is 19,000.

West Texas Crude Oil: Support is 93. Resistance at 108 has failed. Next upside target is 118.

Gold: Support at 1900 has failed after another failed attempt to push past 2100. The picture is looking increasingly bearish longer term. Support now is 1790.

Apple: Upside target is still 200. Support is 125.

Alibaba: BABA reached 75 support. Resistance is 125.

Amazon: Support is 2150.

Facebook:  Support is 180. Resistance is 235.

Google: Support is 2100.

Netflix: Downside target is now 160 and 275 is resistance.

Tesla: The 680-720 support zone failed so downside target is now 550.

Twitter: Resistance is in the 55-60 range. Support is 36.  

Visa: Upside target is 250. Support still 195.