Thursday, June 13, 2019

Guesstimates on June 13, 2019

June S&P E-mini Futures: The ES is headed back to and above its May 1 top at 2961.25. Looking further ahead the Lindsay basic advance which started from the December low is likely to last two years and carry the ES to 3500 or so.
QQQ:  The market is headed for 230-240 during the next 18 months.
TNX (ten year note yield): A drop to 1.85% is probably in the cards.
Euro-US Dollar: Resistance above the market is 115.50. The longer term picture is bearish.
Dollar-Yen: The Dollar-Yen has bounced off of 112.50 resistance. Support is 108.00. Next upside target is 116.00.
West Texas Crude Oil: It looks like 53-54 support has failed. The 56 level is now resistance and the next downside target will be 45.
Gold: Gold has moved above 1315 resistance. It now is headed up to 1380. Support is 1315.
Silver: Silver resistance is at 16.50.
Google: 1120 support has failed. A drop back to 980 is now likely. 1120 is now resistance.
Apple:  It is beginning to look as if the failure of support at 180 was a false alarm, especially in light of the bullish prognosis for the general market. I now think that the low near 170 will hold and that a swing to new bull market highs is underway.
Facebook:  Support is at 165. If it fails FB will be headed back down to 120.
Twitter: Support is 31. TWTR is on its way to its all time high at 74.
Alibaba: BABA is probably headed back to 130 and below.
Visa: V has reached the 160-65 target zone. Support is now at 150 and the next upside target is 183.

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