S&P's, Spiders, and QQQQ's

Here are hourly charts of the June S&P's, the Spiders, and the QQQQ's. I last commented on these markets here.

I think the rally phase which began from the March 14 low is just about over even though neither the Spiders nor the Q's managed to reach my upside targets. The next significant move should be a swing down to the ultimate low of the correction which began from the February 22 top. The downside targets are 1360 in the futures, 135.00 in the Spiders, and 41.00 in the Q's.

I don't think the bull market which began from the 2002 low points is over. I expect all three markets to make new bull market highs within the next three months.