September S&P Futures: The S&P’s have nearly reached support at 1240 and the next development should be a rally into the 1260-70 range. After that rally the odds will then favor a drop to 1224.
September Bonds: Resistance is at 107-26 today and from there I think the market will drop to106-20. The market is headed for the 110 level.
September 10 Year Notes: Resistance today is at 105-20 and from there the notes should drop to support near 104-20. The market is headed for 107.
Euro-US Dollar: The market has nearly reached support at 126.40. Weakness below 126.40 would force me to abandon my 131.00 target and look for an extended drop instead.
Dollar-Yen: The yen is headed for 118.00. I still think the yen will reach the 130 level over the next year.
August Crude: The market is headed for the 79.00-80.00 zone.
August Gold: The 662 level is my target for the rally from 547. Silver has not reached its corresponding target so I think gold will continue up at least to 680.
September Silver: Resistance is at 1200. I am beginning to think that my 1270 target for the rally from 945 is too optimistic.
Google: Support is at 405 and I think GOOG will soon move above its last high at 455.