Guesstimates on August 14, 2013

September S&P E-mini Futures: Today’s range estimate is 1685-1697.  Next upside target is 1710. The ES is headed to my long standing target of 1775 and possibly higher over the coming months.

QQQ:  Upside target is 79.

TNX (ten year note yield): The upside yield target for the 10 year is 2.85 % but I think the market will move past this level to 3.50% over the next few months.

Euro-US Dollar: It looks like a move up to 1.400 is underway.

Dollar-Yen: The dollar-yen is headed for 107.00.

September Crude:  Crude is stalling at 108 resistance.  

December Gold:  I think a rally of $200-300 is underway.    

September Silver: The 18.00 level is support and a rally to 24.00 or so is underway.

Google: Support is at 800 and I think the next step up will carry GOOG to 975.

Apple:  Resistance at 475-80 has been broken decisively and this in turn looks like a breakout above the high of a trading range which formed below 460 over the past few months. Yesterday’s wide range also took the market above its declining 200 day moving average. The 460 level is now support and as long as it holds I think AAPL will continue its rally to 560 or so.