December S&P Futures: The market has nearly reached the 1350 level. Support today is at 1340. I think some sort of reaction will develop from a high within the 1350-60 zone but I also think any such reaction will end near 1330, the level of the May high. Much higher prices are likely later this year.
December Bonds: Resistance now is at 113-12 and the market is likely to drop to 112-00 before resuming its rally. I also think that the market will rally into the 114-115 range before a more substantial drop develops.
December 10 Year Notes: The market has reached resistance near 108-16 but should hold support around 108-00. I think the notes will rally into the 109-110 range before a more substantial drop begins.
Euro-US Dollar: The market has so far held support at 126.80 and as long as it does I shall stick with my 131.50 upside target.
Dollar-Yen: Since the euro-dollar is holding support I have decided to give the yen a little more room on the upside. So long as the yen holds resistance at 117.60 I shall stick with my downside target of 114.30.
November Crude: The market is getting close to the 58.80 downside target. The next significant development should be a rally of 5 to 10 dollars. Ultimately the current drop will carry the market down into the 50-55 range.
December Gold: I think a move below the 500 level is underway. Today resistance is again at 602.
December Silver: Early this morning the market moved above resistance at 1150 so I think it will continue upward to 1195. After that I think the market will resume its drop to below 900.
Google: Support is at 394 and I think GOOG will soon move above its all time high of 475.