Spiders - September S&P E-mini Futures: I am long the e-minis from 1233 and am working a 1235 stop today. I think the rally from Friday’s 1225 low will carry at least to 1290. I also think that it is the first stage of a much bigger move to 1500.
QQQ: Support remains at 44.00. Resistance stands at 47.50. During the next few months the market should rally to 55 or higher.
TLT - September Bonds: Support is at 115-00 and as long as that holds I’ll stick with my 118-00 upside target.
September 10 Year Notes: Support is at 113-24 and as long as that holds I’ll stick with my 117-16 upside target.
Euro-US Dollar: I think the market is on its way to 163. Support is at 155.80.
Dollar-Yen: The yen is headed for 103.50. From there the rally to 112.00 will resume.
XLE - OIH - USO – August Crude: Crude is headed for 160-165. Support is at 133.
GLD - August Gold: I think the market is headed back to 1000. Support is at 915.
SLV - September Silver: I think silver is the way to the 1950 level.
Google: It is beginning to look like the reaction low for GOOG is in. A move to 750 or higher will be the next development.