June S&P E-mini Futures: Today’s range estimate is 2058-2072. If the
market can rally today without dropping much below the 2058 midpoint I will be
bullish and look for a swing to new bull market highs.
QQQ: Downside target is 100.
TNX (ten year note yield): I think that the market is headed up to
3.00%.
Euro-US Dollar: The ECB’s quantitative easing program
will drop the euro below 1.00 over the coming months. Near term downside target
is 1.03. Resistance above the market is at 1.12.
Dollar-Yen: Support is at 116. The bull market has
much further to go over the coming months. 140-45 is my longer term target
zone.
May Crude: The longer term trend
in oil prices is downward and should carry this market down close to the 2008
low at 33. Resistance above the market is at 55.
June Gold: The
odds favor continuation downward to 1040 over the coming months. Resistance
above the market is at 1215.
May Silver: I think silver is headed for 13.00.
Google: I think the longer
term trend is upward and expect GOOGL to hit 670.
Apple: There
is no reason for thinking the bull market is over. New upside target is 140 but
160 should not be far behind. Support is at 121.
Facebook: Upside target is 90. Support is 72.
Twitter: I expect TWTR to move up to 70.
Alibaba: BABA is headed for 68. Resistance above the market is at 86.
Visa: Upside target is 72. Support is 63.
