Guesstimates on June 3, 2015

June S&P E-mini Futures: Today’s range estimate is 2113-2128. A drop below 2106 would mean that the ES is headed for 2080-90 instead.

QQQ:  Upside target is 113.

TNX (ten year note yield): I think that the market yield is headed up to 3.00%.

Euro-US Dollar:  Resistance stands at 1.1250 and as long as it holds I will stick with my view that the Euro is headed below 1.00. If resistance fails then the market will head up into the 1.18-1.20 zone before the bear market resumes.  

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 while 127 is near term resistance.

July Crude:  The longer term trend in oil prices is downward and should carry this market down close to the 2008 low at 33. Crude has reached 64 resistance and I think the market will stall here and then head lower.

August Gold:  The odds favor continuation downward to 1040 over the coming months. Resistance above the market is at 1215.

July 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 still expect TWTR to move up to 70. Support is at 35.

Alibaba: BABA has moved above 90 resistance and now appears to be headed back to its all-time high of 120.

Visa: Upside target is 72. Support is 63.