Tuesday, May 04, 2021

Guesstimates on May 4, 2021


June S&P E-mini Futures:  The Fed’s QE program is still very bullish long term and the Corona Crisis has passed its peak. The 2174 low of March 2020 will hold for several years and the ES is likely to trade up to or past 4500 by the end of 2021. 

QQQ:  Upside target is 345.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. First stop is 2.00%.

Euro-US Dollar: A swing up to 125 is still likely but only so long as long term support at 117 holds.

Bitcoin: Upside target is now 72-75,000. Support is 45,000

West Texas Crude Oil: Upside target is now 73. Support is 55.

Gold: The 1800 level is resistance. Next downside target is 1600.

Silver:  Support is 23.00. Upside target is 35.00

Apple: The145 level is the upside target.

Alibaba: BABA resistance at 252 failed but there is a secondary level at 275 which will probably hold. A drop to 175 lies ahead.

Amazon: Next upside target is 3700. Support is now 2850.

Facebook:  Upside target at 325 was reached. Next target is 355.

Google: The 1800 level is support. Next upside target is 2500.   

Netflix: Upside target is 680. Support is 450.

Tesla: Support at 700 has failed. Downside target is now 540.

Twitter: Resistance is at 70. Next support is 55.

Visa: Upside target is 240. Support is at 175-180.

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