June S&P E-mini Futures: Today's range estimate is 1195 - 1208. Yesterday's late rallied continued to the 1203 level early this morning. It was much bigger than I anticipated and was uncorrected. This leads me to conclude that yesterday's 1180 low ended the correction from 1180 and that a swing to 1270 is now underway.
QQQ: A move up to 54.00 has begun.
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.
June Crude: I still think the next big move will take crude oil 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. 540 is now support.