June S&P E-mini Futures: In electronic trading this morning the e-minis have traded as high as 887. I am estimating that today’s daytime range will be 875-895. There is pretty strong resistance in the 890-900 range and I think the market will drop from there to support in the 840-60 range before it begins a move to 940.
QQQ: The 32.40 level is support and I think the Q’s are headed for 35.00.
June Bonds: I don’t think the longer term bearish picture has changed. Resistance above the market is 132-16. Next downside target is 115.
June 10 Year Notes: I think a bear market in the notes is underway. Resistance above the market is at 125-20. Next downside target is 118.
Euro-US Dollar: Resistance stands at 133.35. I now think the euro is headed for 115.00.
Dollar-Yen: Then yen is headed for the 104.00 level. Support stands at 95.55.
June Crude: I think crude is on its way to the 58.00 level. Support is at 46.00.
GLD – June Gold: I think the market is headed below 700. Resistance above the market is at 915.
SLV - July Silver: Silver is headed for 750.
Google: I think that its drop from 747 is over. Support is at 360. Next upside target is 450.
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