September S&P E-mini Futures: Today’s range estimate is 1643-55. The high volume drop below 1670 looks like a genuine downside breakout from the 1670-1705 trading range. This makes it likely that the ES is headed back to its June 24 low as 1553.
QQQ: If the market starts accepting prices below 75 it is headed back down to 69 or lower.
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: It looks like a move up to 1.400 is underway.
Dollar-Yen: The dollar-yen is headed for 107.00.
September Crude: Crude is stalling at 108 resistance.
December Gold: I think a rally of $200-300 is underway.
September Silver: The market has reached resistance near 24.00 and will probably stall here before the bear market resumes.
Google: Support is at 800 and I think the next step up will carry GOOG to 975.
Apple: The 460 level is now support and as long as it holds I think AAPL will continue its rally to 560 or so.