Monday, April 30, 2018

Guesstimates on April 30, 2018

June S&P E-mini Futures:  The ES has established itself above the 2650 level and is now on the way up to 2775. Shorter term resistance is at 2688 and 2718. Ultimately the ES is likely to trade near 3100 later this year.
QQQ: Support is now at 158 and the upside target is 180.
TNX (ten year note yield): Next upside target is 3.20%. I think this is good news for the stock market because it means that confidence in future growth is being restored. This in turn means that investors will try to put the huge supply of central bank liquidity to work in risky assets. This process will drive world wide stock market prices higher.
Euro-US Dollar: The Euro nearly reached the 126 target.  Support now is at 119. Next upside target will be 130.
Dollar-Yen: Support at 108 has failed and is now resistance. Downside targets are 99 and then 90.
West Texas Crude Oil: Support is at 59. The next upside target is 74.
Gold:  The 1295 level is support. Upside target is 1390.
Silver: Resistance is at 18.50. Silver is headed for 13.00 and below.
Google: GOOG is headed for 1250.
Apple:  AAPL is headed higher to 180 and above.
Facebook:  Facebook’s low at 149 is likely to hold for quite a while. I think FB is on its way above 195.
Twitter: TWTR reached the initial 34-36 target zone. Support is at 26. I expect TWTR to move up to 48.
Alibaba: BABA should rally to 215 over the coming weeks.
Visa: Headed for 135.

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