Hot Markets Outlook from Fortucast Market Timing

MACROWAVE: (7/2) We continue with our forecast for the S & P being at 600 by Nov. 28, 2010. We are still projecting higher T-notes to the 128.12 region likely at least through August. Gold could hit 1522 by late November and eventually 1730 but test 1150 before that. Crude oil is projecting 109 into Oct. 15 but could go to 7050 first.

SEPT. E-MINI S & P 500

HOURLY CHART TREND: Volatile.

DAILY CHART TREND: Probably higher to 1116 to 1120.

WEEKLY CHART TREND: Eventually lower to 780 or possibly 600 into late November.

LONGER TERM: (7/21) As long as the S & P stays under 1174, it will be confirming an X-wave and then we will look for an A-wave down probably starting from August 4 into August 31, then a 3-week bounce in Sept. and then continued downside. At this point it is difficult to estimate whether the new low at 600 will come but we are still seeing no way to change it. Next entry for shorts is probably July 26 but we have to watch background dews the week of July 27-31. Latest entry for shorts is August 4. August 16 is a first low. If major upside fails to manifest July 27-August 3--and there are a lot of potential events that could prevent that--then this market will be in trouble sooner.

BIG PICTURE: Still focusing on 600 on the S & P into Nov. 28 and we will get more exact numbers as we get closer to that timeframe. More significant acceleration should start August 4-31. Logically one would think that with an election year, the Democrats will make sure that stocks are higher yet I think there are factors looming beyond even them and Goldman Sachs nano-second program and they will not be able to control Europe’s meltdown.

LONGER-TERM COVERAGE: For a complete long-term analysis and long-term overview of charts and patterns and key dates into 2013, see our monthly letter, Fortucast Financial Visions into the Future with a new update, vol. 1, no. 12, published June 30.

CHICAGO AUGUST MINI GOLD (electronic)

NEAR TERM: (7/26) We have a major low into August 16 and that could be at 1050 but could see extreme volatility before that.

SEPT. MINI CRUDE (electronic)

OVERALL: We think 8550 is an easy August target. If we are correct about a hurricane in the Gulf at the end of the month or problems in the Middle East, crude should shoot up there into early August before a fall into August 15.

LONGER TERM: Crude could be starting a journey higher into Oct.15.

STATEMENT OF DISCLAIMER

FUTURES AND OPTIONS TRADING IS RISKY AND CAN RESULT IN SUBSTANTIAL LOSS. THE USE OF STOPS MAY NOT LIMIT LOSSES TO INTENDED AMOUNTS. SPREAD POSITIONS MAY NOT BE LESS RISKY THAN OUTRIGHT POSITIONS. PAST RESULTS DO NOT NECESSARILY INDICATE FUTURE RESULTS. SOURCES ARE BELIEVED TO BE RELIABLE, BUT NO ASSURANCE IS MADE FOR ACCURACY.

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