Wednesday, July 29, 2015

Guesstimates on July 29, 2015



September S&P E-mini Futures: Today’s range estimate up until the Fed announcement is 2081-2094. Yesterday’s rally pushed the ES back above the critical 2080 level. As long as no weakness below 2075 develops I think the market is now headed above 2126.25.  
QQQ:  Support is at 108. Upside target is 120.
TNX (ten year note yield): I think that the market yield is headed up to 3.00%.
Euro-US Dollar:  The market has again dropped visibly below 1.10 support. I think it is headed to 0.96 over the coming months.
Dollar-Yen: Support is at 116. The bull market has much further to go over the coming months. 140-45 is my longer term target zone while 127-28 is near term resistance.
August Crude:  I am beginning to suspect that the bear market is oil is over and that this long trading range is a precursor to a sustained advance. Meantime support is at 45.
August Gold:  Gold has made a new bear market low but is getting close to long term support at 1030. I think a new bull market is likely to emerge from a low near that support level.
September Silver: I think the bear market in silver may be over. If so support is at 13.50.
Google:  Support at 675 has been broken and GOOG will probably drop to 635 before its bull market resumes.
Apple:  There is no reason for thinking the bull market is over. Support is at 121.
Facebook: Next upside target is 110. Support is at 80.
Twitter: TWTR broke below 35 support and is now headed for 25.
Alibaba: BABA is on its way to 70. Resistance above the market is at 85.
Visa: Upside target at 72 has been reached but there is no sign that the advance is over. Next stop is 80. Support is still 63.

Tuesday, July 28, 2015

Guesstimates on July 28, 2015



September S&P E-mini Futures: Today’s range estimate is 2070-2082. The ES now appears to be headed for the July 6 low at 2034. Any obvious weakness below 2030 would be very bearish.
QQQ:  Support is at 108. Upside target is 120.
TNX (ten year note yield): I think that the market yield is headed up to 3.00%.
Euro-US Dollar:  The market has again dropped visibly below 1.10 support. I think it is headed to 0.96 over the coming months.
Dollar-Yen: Support is at 116. The bull market has much further to go over the coming months. 140-45 is my longer term target zone while 127-28 is near term resistance.
August Crude:  I am beginning to suspect that the bear market is oil is over and that this long trading range is a precursor to a sustained advance. Meantime support is at 45.
August Gold:  Gold has made a new bear market low but is getting close to long term support at 1030. I think a new bull market is likely to emerge from a low near that support level.
September Silver: I think the bear market in silver may be over. If so support is at 13.50.
Google:  Support at 675 has been broken and GOOG will probably drop to 635 before its bull market resumes.
Apple:  There is no reason for thinking the bull market is over. Support is at 121.
Facebook: Next upside target is 110. Support is at 80.
Twitter: I still expect TWTR to move up to 70. Support is at 35.
Alibaba: BABA is on its way to 70. Resistance above the market is at 85.
Visa: Upside target at 72 has been reached but there is no sign that the advance is over. Next stop is 80. Support is still 63.

Monday, July 27, 2015

Guesstimates on July 27, 2015



September S&P E-mini Futures: Today’s range estimate is 2049-70. The ES now appears to be headed for the July 6 low at 2034. Any obvious weakness below 2030 would be very bearish.
QQQ:  Support is at 108. Upside target is now 120.
TNX (ten year note yield): I think that the market yield is headed up to 3.00%.
Euro-US Dollar:  The market has again dropped visibly below 1.10 support. I think it is headed to 0.96 over the coming months.
Dollar-Yen: Support is at 116. The bull market has much further to go over the coming months. 140-45 is my longer term target zone while 127-28 is near term resistance.
August Crude:  I am beginning to suspect that the bear market is oil is over and that this long trading range is a precursor to a sustained advance. Meantime support is at 45.
August Gold:  Gold has made a new bear market low but is getting close to long term support at 1030. I think a new bull market is likely to emerge from a low near that support level.
September Silver: I think the bear market in silver may be over. If so support is at 13.50.
Google:  Support at 675 has been broken and GOOG will probably drop to 635 before its bull market resumes.
Apple:  There is no reason for thinking the bull market is over. Support is at 121.
Facebook: Next upside target is 110. Support is at 80.
Twitter: I still expect TWTR to move up to 70. Support is at 35.
Alibaba: BABA is on its way to 70. Resistance above the market is at 85.
Visa: Upside target at 72 has been reached but there is no sign that the advance is over. Next stop is 80. Support is still 63.