September S&P Futures: The S&P’s are headed for 1285. Meantime support is at 1255.
September Bonds: The bonds are headed for support at 107-02. After that the next upside target will be 108-20. The market is in the midst of a move to 110.
September 10 Year Notes: The notes should drop to support near 105-04 and then rally to 106-08 and then to 107.
Euro-US Dollar: I now think the second (downward) phase of the move to 127.80 will break below 126.10 support and stop instead at 125.60. The third phase should then carry the market upward to 127.80. Over the next few weeks I am looking for the market to drop to 123.00 and eventually much lower than that.
Dollar-Yen: The yen should complete the second phase of a three phase correction by holding below 117.10. The third phase will then be a drop to 115.50 which will be followed by a resumption of the uptrend to the 130 level over the next year.
September Crude: Downside target is 68.00 and resistance above the market is at 75.90.
August Gold: Short term downside target is 580. A drop below 500 has begun. Resistance above the market is at 625.
September Silver: I think silver is on its way below 900. Short term downside target is 980. Resistance above the market is still at 1130.
Google: Support is at 377 and I think GOOG will soon move above its last high at 455.
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