September S&P E-mini Futures: Today’s range estimate is 1675-88. A
break of 40 or more points is likely to start from the 1680-85 resistance zone
but should end well above the June 24 low of 1553. The ES is headed to my long
standing target of 1775 and possibly higher over the coming months.
QQQ: Upside target is 79.
TNX (ten year note yield): The upside yield target for the 10 year
is 2.85 % but I think the market will move past this level to 3.50% over the
next few months.
Euro-US Dollar: The market has put in three low points
near 1.2800. It has now put in three full trading days above its 20 day moving
average. It looks like a move up to 1.400 has started
Dollar-Yen: The dollar-yen has held support at
94.50. The next upside target is 107.00.
September Crude: Crude
is stalling at 108 resistance.
August Gold: I
think a rally of $200-300 is underway.
September Silver: The 18.00 level is now support and a
rally to 24.00 or so is underway.
Google: Support is at 800 and I think the next step up will carry
GOOG to 975.
Apple: Next
downside target is 350. Resistance is at 460.
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