September S&P Futures: I think the S&P’s will drop to support at 1265 and then rally to 1310. A move to new bull market highs is underway.
September Bonds: My next upside target for the bonds is 107-20. Support today is at 106-20.
September 10 Year Notes: Next upside target for the notes is 105-12. Support is at 104-18.
Euro-US Dollar: Support at 127.10 is being tested again but I think it will hold. The next upside target is 130.00. We should see the 131.00 level in a few weeks.
Dollar-Yen: The yen should reach 113.10 today and then turn upward once more. I still think the yen is headed for the 130 level over the next year.
August Crude: The market has started a swing down to the low of its recent trading range near 68.00. I think that low will be broken.
August Gold: Gold is headed for 662. Support today is at 620.
September Silver: Silver is headed for 1270. Support today is at 1090.
Google: Support is at 400 and I think GOOG will soon reach 430. I expect to see the market reach the 450-500 zone this summer.