September S&P E-mini Futures: Today's range estimate is 1085-1102. A new upward leg in the bull market started from the 1003 low.
QQQ: A new upward leg in the bull market has started. Initial target is 47.50.
TYX (thirty year bond yield): Long term support is at 3.85%. The bonds will soon begin a move to 5.40%.
TNX (ten year note yield): Long term support is at 2.90%. I think that the notes will soon begin a swing up to 4.50%.
Euro-US Dollar: A move into the 135-40 zone is underway.
Dollar-Yen: A rally to 100.00 is underway. Support is at 87.00.
September Crude: I still think crude oil is headed for 50.00.
GLD – August Gold: The odds are that the market will continue upward to 1320. But any weakness below 1150 will mean that a drop to 875 has begun.
SLV - September Silver: I think silver will rally to 21.50 and then begin a move to 10.oo.
Google: The 430 level is now support. A move that should take GOOG above 700 will begin soon.
Apple: Should reach 350 (at least) before the bull market ends. Support is at 240.
2 comments:
GoodMorning!
US & Europe "have not worsened in recent weeks" Business in Western Europe "on balanceis roughly the same,"July 16th: US (CPI, TIC Flows, U. of Michigan Consumer Confidence); Eurozone(n/a); Other (n/a).
As we have noted for several weeks now, 2Q10 earnings should prove to be a reality check, in a positive way—that the soft patch we are seeing is a “growth scare” not a double-dip.
All what you indicated in real bearish sentiments and saved us all.
So Thankful to you!
God Bless You!
3 dojis in a row does not look good especially given that SPY has been unable to break 110 everyday for the past 3 days. I am sitting out of my longs at this point, I may miss a big breakout but I'm pretty fearful of a pullback much farther than 1085 here.
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