Spiders - September S&P E-mini Futures: Thursday the market briefly took out the March low at 1253 but then closed back above 1260 and above Wednesday’s close. The
QQQ: I think the Q’s will end their drop near 44.00 and begin a rally to 55.
TLT - September Bonds: The bonds are now headed upward to 118-00.
September 10 Year Notes: The notes are now headed for 117-16.
Euro-US Dollar: Resistance at 158.00 was broken yesterday. 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.
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: GOOG will drop into the 500-510 range and will then begin a move to 750 or above.