Spiders - September S&P E-mini Futures: I am still 200% long from an average price of 1251.25. I think the e-minis will reach 1325 over the next week or so. Support today is again at 1275. I think the market is in the early stages of a rally which will carry it to 1500 over the next several months.
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: I now think the bonds will make it back to 117-16 before resuming their downtrend towards 109.
September 10 Year Notes: I now think that the notes will make it up to 116-08 before resuming their downtrend toward 108.
Euro-US Dollar: The trend has turned downward in the euro and I think the market is headed for 135. Resistance above the market is at 154.00.
Dollar-Yen: The market should reach the 112.00 target soon. Support is now at 106.00.
XLE - OIH - USO – September Crude: I think that the market is headed for 100. The 121 level is now resistance.
GLD - December Gold: Gold is headed for 750. Resistance above the market is at 915.
SLV - September Silver: I think the market is now headed for 1250. Resistance is at 1750.
Google: The 460-80 range is good support and I expect the market to hold there and begin a move which will carry it over 750.