Thursday, June 16, 2022

Guesstimates in June 16, 2022

September S&P E-mini Futures:  The ES has dropped to 3695 so far. Sentiment is still very bearish. This is good reason for thinking the drop from 4808 will end soon and that a swing up to new historical highs will begin.

QQQ:  Support is 272.

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 at 118 has been reached. A swing back to 130 or so is underway.

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 100.

Google: Support is 2100.

Meta:  Support is 160. Resistance is 235.

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

Tesla: Downside target is now 550.

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

Visa: Upside target is 250. Support still 195.

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