Monday, July 07, 2014

Guesstimates on July 7, 2014

September S&P E-mini Futures: Today’s range estimate is 1971-1981. The ES has reached the 1980 target and if support at 1971 is violated the market will have begun a drop of 25-40 points.
QQQ:  Upside target is 95.00 has been reached. I think the Q’s are going to have a hard time making further progress but there is as yet no sign of a top.
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 still locked in a 1.35-1.37 trading range. I think any drop below the low of this range will be brief and the next big development will probably be an upside breakout.
Dollar-Yen: The dollar-yen is headed for 107.00.
August Crude:  My upside target is 112.
August Gold:  I think gold is headed for 1395.
September Silver: Resistance above the market at 20.25 has been broken. Silver is headed for 22.25.
Google:  Googl has moved above the two important resistance levels I have been watching at 538 and 555 so I conclude that it is now headed for 620 and higher.
Apple:  Apple’s stock split makes its historical high 100.70. AAPL had moved past all resistance which I can calculate below that top. It is well above rising 50 and 200 day moving averages. I now think AAPL is headed above 100, probably to 108 or so.

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