Guesstimates on May 16, 2024


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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.

QQQ: Support is 420. Upside target is 450.

TNX (ten year note yield): The 3.75% level is support. A swing up to 5.50% is underway.

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 2250.

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 now 395.

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

Nvidia: Resistance is 1050. Support is now 710.

Tesla: Downside target at 144-150 has been reached. Resistance above the market
is 200.

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

 

 

 



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