September S&P E-mini
Futures: Today's
range estimate is 1415-1423. Over the
next month or two the market should move above 1450.
QQQ: A move to 76 is underway.
TNX (ten year note
yield):
The 10 year yield has started to rally.
If this rally has legs it could easily push the 10 year yield to 2.50% or even
higher. The bond market is anticipating a revival of economic activity in the
US.
Euro-US Dollar: Resistance above the
market is at 1.2600. 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 should stop near 96. I think the next development will be a
resumption of the bear market in crude. Next downside target is 66.
GLD – December Gold: The
market has dropped to the vicinity of the September and December low points at
1544 and 1529 and has started to rally. 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: AAPL
established a new bull market high at 648 Friday. think the market is headed to
690-700. Support stands at 600.
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