Monday, April 22, 2024

Guesstimates on April 22, 2024

June S&P E-mini futures:  Inflation is coming down and the Fed is unlikely to tighten any more. My long-standing 5400 target has nearly been reached but may well prove too conservative. In the meantime the ES has dropped to 4963 but that low probably ended the drop from 5333.

QQQ: Support is 420. Upside target is 450.

TNX (ten year note yield): The 3.75% level is support.

Euro-US Dollar: The Euro is likely to drop to support at 100. Meantime resistance is 112.

Bitcoin: Support is at 56,000. Next upside target is 81,000.

West Texas Crude Oil: Upside target is 90. Support is 72.

Gold: Next upside target is 2500. Support is 2135.

Apple: Next upside target past 200 is 250. Support is 165.

Amazon: Upside target at 175 has been reached. Support now is 145 and next upside target is 205. 

Google: Upside target at 150-55 has been reached. Support is now 125.

Microsoft: Support is 375 and the next upside target is 500.

Meta:  Upside target at 530 has been reached. Support now is 435.

Netflix: Upside target is 710. Support now is 450.

Nvidia: Resistance is 1050. Support is now 710.

Tesla: TSLA upside target is 350. Downside target is 144-150.

Visa: Upside target at 285 has been reached. Support now is 250.

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