September S&P E-mini Futures: Today’s range estimate is 2115-2126. I
think the ES is headed above its previous bull market top at 2126.
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: It
looks like resistance at 1.1250 has failed and this means that the Euro is
headed for the 1.18-1.20 zone. It should then stall there and resume its bear
market.
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.
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