September S&P Futures: Support today is at 1255. I think the market is on its way to 1282. I also think the market ended the drop from the May 5 top at last week’s 1229 low. A move to new bull market highs is underway.
September Bonds: I think support at 106-04 will hold and that the market is headed up to 107-24. Over the next few weeks the market should reach the 110-111 zone.
September 10 Year Notes: Support at 104-16 will hold and the notes should now head back up to 106-04. I expect the market to rally over the next few weeks into the 107-108 zone.
Euro-US Dollar: The three phase correction ended at this morning’s high of 126.79. The next step down will carry the market to 124.30. An extended drop which should carry below 116 is underway.
Dollar-Yen: The yen has bounced of support near 114.30 and now should rally to 117.00 short term resistance. The market is in the early stage of a move to 130.
August Crude: The market has reached resistance at 70.80 and now should drop to 65.70.
August Gold: Gold broke a bit above 594 resistance but I think it has now completed a three phase rally and will probably drop to a more important low in the 530-35 range.
July Silver: Silver reached 1066 resistance and should now drop to a more important low in the 920-30 range.
Google: Support is at 380 and I think GOOG will soon rally to 410. I expect to see the market reach the 450-500 zone this summer.
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