Spiders - September S&P Futures: Resistance above the market is at 1475. The S&P’s are headed down into the 1400-20 zone. After this break I think we shall see a rally to new bull market highs.
QQQQ: I think the Q’s are headed down into the 47.00 – 47.50 zone. The bull market high so far is 50.66 and later this year the market should be trading well above that level.
TLT - December Bonds: The market should continue upward to 114-24 or so. Support beneath the market stands at 113-00. TLT has reached the 89.00 level and I think the next development will be a drop into the 80-81 range.
December 10 Year Notes: The notes should continue upward to 111-08.
Euro-US Dollar: The market is headed for the 141.00 level.
Dollar-Yen: Support in the yen is at 113.25. Looking ahead several months I expect to see the 130 level during the next 12 months.
XLE - OIH - USO – October Crude: Crude now looks like it is headed for 81.00. The upside target for USO is 62. OIH will probably rally back to is high near 192 while ELE will make it up to 75.
GLD - December Gold: Gold is headed for 730. I think gold will soon start a decline which will carry it to 500 and below.
SLV - December Silver: Silver looks like it is headed for the 1330 level. I think silver will soon start a drop which will carry it below 900 and SLV below 90.
Google: I think support near 485 will hold and that a rally to 600 or higher is underway.
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