Tuesday, June 22, 2021

Guesstimates on June 21, 2021

September 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: It appears that the Euro has made a lower top and is now on its way below 117 support. Downside target is 112.50.

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

West Texas Crude Oil: Upside target at 73 has been reached. Support is 62.

Gold: The upside target is 2150 but only so long as 1755 support holds. If it fails then a drop to 1600 will follow

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: Resistance is 680. If it holds next downside target will be 400.  

Twitter: Next support is 45. Resistance is 62.

Visa: Support is 200. Upside target is 250.


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