June S&P E-mini Futures: Today's range estimate is again 1188 - 1200. The 1200 level is strong resistance so a break of 20-30 points is likely to start this week. The dull, listless trading makes me think this market has to go higher to attract enough sellers to generate a break bigger than 20-30 points.
QQQ: A rally to 50.00 and higher is underway.
TYX (thirty year bond yield): I think this market is headed for 5.40%.
TNX (ten year note yield): I think that the market has begun a swing up to 4.50%.
Euro-US Dollar: Support is near 131.00. Resistance above the market is at 141.00. Looking further ahead I think that a drop to 125 is likely over the coming months.
Dollar-Yen: A rally to 100.00 is underway. Support is at 90.00.
May Crude: The market has moved visibly above resistance but I still think the next big move will take it to 50.00.
GLD – June Gold: The longer term trend has turned downward. I expect gold to drop to 875 over the next few months.
SLV - May Silver: I think silver has started a down move that will carry it to 10.00 over the next few months. Resistance is now 18.30.
Google: A move that should take GOOG above 700 is underway.