September S&P E-mini Futures: Today I will start trading and analyzing the September ’15 contract. Today’s range estimate is 2089-2101. I still think Tuesday’s low ended the drop from the May 19 top but weakness below 2088 would change my mind about this.
QQQ: Upside target is again 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 bounced off 64 resistance and I think the market will head still 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 down to support at 85. Weakness below there would mean that the market is headed for 70.
Visa: Upside target is 72. Support is 63.