September S&P Futures: The S&P’s should rally at least to 1257 before dropping to the 1219 support level. Today support is at 1240.
September Bonds: The bonds dropped below 106-20 support today and it looks like the market will stop instead at 106-04. After that the market will head for the 110 level.
September 10 Year Notes: The notes have reached support near 104-20 and now I expect the market to head back up again.
Euro-US Dollar: The market is headed for 123.00 and eventually much lower than that.
Dollar-Yen: The yen has nearly reached the short term target at 118.00. Right now I think the market will probably reach the 118.50 level before we see a 100-200 pip break. I still think the yen will reach the 130 level over the next year.
September Crude: Switching to the September contract today which is trading about 1.80 over August. Support is at the 75.00 level and weakness below there will mean that a big drop has started.
August Gold: Gold has reached short term support near 620. Weakness below there will confirm that the big drop below 500 that I think is underway has indeed begun.
September Silver: I think silver is on its way below 900.
Google: Support is at 394 and I think GOOG will soon move above its last high at 455.