Wednesday, April 30, 2014

Guesstimates on April 30, 2014

June S&P E-mini Futures: Today’s range estimate is 1869-1882. I believe the ES is headed above 1892. Should the market instead start accepting prices below 1850 I will conclude that it is headed for 1800 or lower.
QQQ:  Upside target is 95.00.
TNX (ten year note yield): I think the market will move to 3.50% over the next few months.
Euro-US Dollar: The euro is headed for 1.42.
Dollar-Yen: The dollar-yen is headed for 107.00.
June Crude:  Crude spent several days trading mostly above 103 resistance but so far has not spent much time trading above its last high at 104.48. A close above that high would mean the market is headed for 111. In the meantime I am sticking with my bearish stance.
June Gold:  Resistance above the market is at 1320 and gold has now broken below its March low. Downside target is 1210.
July Silver: Resistance above the market is at 20.25. Silver is headed for 13.00.
Google:  Support at 538 has failed and is now resistance above the market. This makes a drop to 450-475 likely.
Apple:  AAPL rallied strongly on earnings/stock buyback news and so far has continued upward to 595. My 600-610 target zone is nearby and I think AAPL is likely to stall there and then drop back to 540-550.

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