September S&P E-mini Futures: Today's range estimate is 1015-1035. The ES dropped to 1003 last night. I think this market is scraping bottom and the worst I see on the downside is 990. Strength above 1050 would mean the low has been established and that a new up leg in the bull market has started.
QQQ: Support is at 42.00. The next move up will carry to 54.00.
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.
August 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. I still expect to see 875 before 1400. Support stands in the 1160-70 range.
SLV - July 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.