Spiders - June S&P E-mini Futures: The 1410 level is now resistance, but strength above there will force me to abandon my expectation of a drop to 1340. In either case I think the S&P will make it to the 1500 level in two or three months.
QQQ: The Q’s made a new rally high yesterday so I now think they will continue upward to 54.00.
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: I still think crude is on its way into the 112-115 zone. Resistance above the market is at 131.
GLD - August Gold: I think gold is headed for 750. Resistance is at 910.
SLV - July Silver: I think the trend in silver is downward and will carry the market at least to 1400.
Google: It now looks like the low Google made near 538 will hold. Next upside target is 640.