Guesstimates on June 16, 2015

September S&P E-mini Futures: Today’s range estimate is 2088-2106. A drop substantially below 2057 would be very bearish while a move above 2106 would mean that new bull market highs lie ahead.

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.

August 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.