Spiders - June S&P E-mini Futures: Twice during the past two days the market has dropped to 1370-75 and then rallied. I think this means we shall see more of a rally to 1400-10 before the drop to 1340 resumes. From the 1340 low the S&P is likely to rally to 1500.
QQQ: I think a drop to support at 46.50 is underway.
TLT - September Bonds: I think the bonds are on the way down to 111. Resistance is at 117-28. I think TLT will drop to 88.
September 10 Year Notes: I think the notes are on the way down to 111.
Euro-US Dollar: Resistance is still at 158.00. I think the market is on its way to 140.
Dollar-Yen: The yen is headed for 112.00. Support is now at 101.15.
XLE - OIH - USO – July Crude: Crude is on its way into the 112-115 zone. Resistance above the market is at 134.
GLD - August Gold: I think gold is headed for 750.
SLV - July Silver: I think the trend in silver is downward and will carry the market at least to 1400.
Google: I still think Google will drop to 515 or so before resuming its uptrend.