September S&P E-mini
Futures: Today's
range estimate is 1357-67. The ES is
headed for the 1405-1420 range.
QQQ: A move to 76 is underway.
TNX (ten year note
yield):
The 10 year yield is trading below the low of its recent multi-month trading
range. The market seems to think that the Fed's easing actions will have the
desired effect. If so yields will head back up to 3.00% and higher.
Euro-US Dollar: Resistance above the
market remains at 1.2760. The market looks like it is on its way to 1.1900.
Dollar-Yen: This market is headed
for 75 and lower.
September Crude: The market reached resistance at 93
yesterday. I think the next development
will be a resumption of the bear market in crude. Next downside target is 66.
GLD – August Gold: The
market has dropped to the vicinity of the September and December low points at
1544 and 1529. I think a sustained up move is underway.
SLV - September Silver: A sustained move up is
underway.
Google: Google held support
near 562 and now is headed up to 750.
Apple: I
think the market is headed above its 644 top and probably to 690-700.
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