Guesstimates on June 22, 2022

September S&P E-mini Futures:  The ES has dropped to 3638 so far. The rally past 3750 yesterday is the first indication that the drop from the January top may be over. Sentiment is still very bearish. This is good reason for thinking the drop from 4808 will in cany case end soon and that a swing up to new historical highs will begin.

QQQ:  Support is 272.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. Support is at 2.00%. Odds favor a swing up to at least 3.75% during the next few months.

Euro-US Dollar: Downside target at 103.75 has been reached. Resistance is near 108.00.

Bitcoin: Downside target at 19,000 was reached Saturday. Resistance is at 26,000.

West Texas Crude Oil: Support at 108 failed. A drop to 94 is underway.

Gold: The picture is looking increasingly bearish longer term. Support now is 1790.

Apple: Upside target is still 200. Support is 125.

Alibaba: BABA reached 75 support. Resistance is 125.

Amazon: Support is 100.

Google: Support is 2100.

Meta:  Support is 160. Resistance is 235.

Netflix: Downside target is now 160 and 275 is resistance.

Tesla: Downside target is now 550.

Twitter: Resistance is in the 55-60 range. Support is 36.  

Visa: Upside target is 250. Support still 195.


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