Guesstimates on August 7, 2012

September S&P E-mini Futures: Today's range estimate is 1391-1403.  The ES is headed for the 1405-1420 range and eventually higher than that.  

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 next significant move should bring yields 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 has reached resistance at 93.  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. 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.  Support stands at 560.