Spiders - September S&P E-mini Futures: Support today is at 1239. I think that the market will make it up to 1290 before a break of 40-50 points develops. I also 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: The trend has turned downward once more and the bonds are headed for 109.
September 10 Year Notes: The trend has turned downward and the notes are headed for 108.
Euro-US Dollar: I think the market is on its way to 163. Support is at 155.80.
Dollar-Yen: The yen is headed for 103.50. From there the rally to 112.00 will resume.
XLE - OIH - USO – September Crude: Crude broke below 133 support so I think that it is now headed for 100. The 133 level is now resistance.
GLD - August Gold: I think the market is headed back to 1000. Support is at 935.
SLV - September Silver: I think silver is the way to the 2100 level. Support 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.