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Guesstimates on August 1, 2022

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September S&P E-mini Futures:  The still prevalent bearish sentiment makes it likely that the 3638 low ended the drop from the January top at 4808. A swing up to new historical highs is underway.

QQQ:  Next upside target is 325. The drop from the all time high at 408 probably ended at the 269 low.

TNX (ten year note yield): Yields are in the early stages of a long march to higher ground. Support is at 2.70%. Odds now favor a swing up to 4.35%.

Euro-US Dollar: Downside target is 95.00. Resistance still at 108.00.

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

West Texas Crude Oil: The 94 target has been reached. Resistance is now 108.

Gold: Downside target is 1625.

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

Alibaba: Resistance is 125.

Amazon: Support is 100.

Google: Support is 100.

Meta:  Support is 160. Resistance is 235.

Netflix: Downside target at 160 was reached and 220 is resistance.

Tesla: Resistance at 815 has failed. This means that TSLA is headed back to 1250.

Twitter: Support at 36 has failed. Resistance is now 41.

Visa: Upside target is 250.

 

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