Spiders - September S&P E-mini Futures: The market didn’t quite make it to 1260 yesterday and is a little stronger this morning. I just went 100% long again at 1270.00. I think the next swing will be a move up to 1340. I think we are in the early stage of a move to 1500.
QQQ: Support is at 46.00. I think the Q’s are about to take a step up to 51.00. During the next few months the market should rally to 55 or higher.
TLT - September Bonds: The bonds broke past 117-16 resistance and are now headed for 118-28.
September 10 Year Notes: The notes broke past 116-08 resistance and are now headed for 117-20.
Euro-US Dollar: The trend in the euro is downward 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 – October Crude: I think that the market is headed for 100. The 120 level is now resistance.
GLD - December Gold: Gold is headed for 750. Resistance above the market is at 840.
SLV - September Silver: Silver has reached my 1250 downside target but I think that any rally from here would halt near 1600 and be followed by still lower prices. Next support is at 1100.
Google: I think GOOG will hold support in the 460-80 zone and begin a move over 750.