September S&P E-mini Futures: Today's day session range estimate is 1294-1310. I think the drop from the May 2 top at 1368 (Sept contract) ended on June 16 at 1252.25. A sustained swing up to above the 1400 level is underway.
QQQ: Upside target is 63.00.
TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.
TNX (ten year note yield): The 10 year yield is headed for 4.50%.
Euro-US Dollar: I now think the market is headed up to 150.
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.
August Crude: It looks like the trend is downward. Next target is 87.00.
GLD – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1485.
SLV - July Silver: Support is at 32.00. This market is about to head upward to resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.
Google: GOOG dropped below 495 support. I expect a recovery above that level this week, but failing that a move to 440 will be in the cards. I still think that the next big development will be a move to 700 and above.
Apple: APPL has reached support at 318 and now should begin a move to 430.
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