Thursday, August 05, 2021

Guesstimates on August 5, 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 now 340. Upside target is 375.

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 still likely. Resistance is 45,000.

West Texas Crude Oil: Resistance is at 78. Support is 66.

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 has been reached. Support is 125. Next upside target is 160.

Alibaba: A drop to 175 lies ahead.

Amazon: Next upside target at 3700 has been reached. Support now is 3000.

Facebook:  FB has risen above 365 resistance. Next upside target is 400. Support is 340.

Google: The 1800 level is support. Upside target at 2500 has been reached and breached. GOOG is headed for 2900.  

Netflix: Upside target is 680. Support is 450.

Tesla: Resistance at 680 has failed. So 900 is now the upside target.   

Twitter: Next upside target is 84. Support is 62.

Visa: Support is 230. Upside target at 250 has been reached.

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