Wednesday, June 02, 2021

Guesstimates on June 2, 2021


June S&P E-mini Futures:  The Fed’s QE program is still very bullish long term and the Corona Crisis is over. 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:  Support is 305. Resistance is 343.

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: A drop to 25,000 is now likely. Resistance is 45,000.

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

Gold: he upside target is 2150.

Silver:  Support is 23.00. Upside target is 35.00

Apple: The145 level is the upside target. Support is 108.

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:  Support is at 285. Upside target is 355.

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

Netflix: Upside target is 680. Support is 450.

Tesla: Tesla dropped to within 5 points of 540 support and is now rallying. Resistance is 680. If it holds next downside target will be 400.  

Twitter: Next support is 45. Resistance is 62.

Visa: Support is 200.


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