September S&P Futures: I expect the S&P’s to drop to 1243 and then to begin a rally 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: The bonds will probably rally to 106-16 today but then should resume their drop to 105-12 and lower.
September 10 Year Notes: The notes will probably rally to 104-24 today but then will resume a drop to 103-24 and lower.
Euro-US Dollar: The market is on its way to 124.30. An extended drop which should carry below 116 is underway.
Dollar-Yen: The yen should soon reach resistance at 117.00. 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 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 430. I expect to see the market reach the 450-500 zone this summer.
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