September S&P E-mini Futures: Today's day session range estimate is 1200-1225. Yesterday's high volume collapse was climactic and the next development will be a rally to 1250-1260. The 200 day moving average is still headed upward so I still think this 12 % drop in the cash S&P is a correction within an ongoing bull market.
QQQ: Upside target is 63.00.
TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.
TNX (ten year note yield): The 10 year yield is headed for 4.50%.
Euro-US Dollar: I think this market is now headed for 1.5300. Support is at 142.00.
Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.
August Crude: The market took out its last low at 90 yesterday so I think it is now headed for 80-81. My best guess is that a bear market in crude is now underway.
GLD – December Gold: Next stop is 1750. Support is at 1570.
SLV - September Silver: Resistance is at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.
Google: I think a move to 750 and above is underway.
Apple: Upside target is now 415.
