September S&P E-mini Futures: Today's range estimate is 1030-1055. I expect a rally of 25-35 points from yesterday's low at 1030.25. After that a further drop to 1010 or so is likely. In the meantime any strength above 1075 would mean that the low of the move down from 1216 has been seen and that a new up leg in the bull market has begun.
QQQ: A move up to 54.00 is underway.
TYX (thirty year bond yield): Long term support is at 3.85%. The bonds will soon begin a move to 5.40%.
TNX (ten year note yield): Long term support is at 2.90%. I think that the notes will soon begin a swing up to 4.50%.
Euro-US Dollar: A move into the 135-40 zone is underway.
Dollar-Yen: A rally to 100.00 is underway. Support is at 90.00.
August Crude: I still think crude oil is headed for 50.00.
GLD – August Gold: The odds are that the market will continue upward to 1320. I still expect to see 875 before 1400. Support stands in the 1160-70 range.
SLV - July Silver: I think silver will rally to 21.50 and then begin a move to 10.oo.
Google: The 450 level is support. A move that should take GOOG above 700 will begin soon.
Apple: Should reach 350 (at least) before the bull market ends. Support is at 240.