September S&P E-mini Futures: Today’s range estimate up until the Fed announcement is 2081-2094. Yesterday’s rally pushed the ES back above the critical 2080 level. As long as no weakness below 2075 develops I think the market is now headed above 2126.25.
QQQ: Support is at 108. Upside target is 120.
TNX (ten year note yield): I think that the market yield is headed up to 3.00%.
Euro-US Dollar: The market has again dropped visibly below 1.10 support. I think it is headed to 0.96 over the coming months.
Dollar-Yen: Support is at 116. The bull market has much further to go over the coming months. 140-45 is my longer term target zone while 127-28 is near term resistance.
August Crude: I am beginning to suspect that the bear market is oil is over and that this long trading range is a precursor to a sustained advance. Meantime support is at 45.
August Gold: Gold has made a new bear market low but is getting close to long term support at 1030. I think a new bull market is likely to emerge from a low near that support level.
September Silver: I think the bear market in silver may be over. If so support is at 13.50.
Google: Support at 675 has been broken and GOOG will probably drop to 635 before its bull market resumes.
Apple: There is no reason for thinking the bull market is over. Support is at 121.
Facebook: Next upside target is 110. Support is at 80.
Twitter: TWTR broke below 35 support and is now headed for 25.
Alibaba: BABA is on its way to 70. Resistance above the market is at 85.
Visa: Upside target at 72 has been reached but there is no sign that the advance is over. Next stop is 80. Support is still 63.