June S&P E-mini Futures: Today's day session range estimate is 1528-1543. The Cyprus news may have kicked off a new down trend but for the moment the market is holding support in the 1525-30 range. A break below that zone will imply that a drop of at least 70 points and possibly more has begun. In any event I think a drop of 10% or more is likely to start within a few weeks.
QQQ: The Q's are headed for 73.
TNX (ten year note yield): Bond yields are going much higher as the market begins to anticipate stronger economic growth. The first upside yield target for the 10 year is 2.50%.
Euro-US Dollar: The euro is headed for 1.2700. Longer term upside target remains 1.40.
Dollar-Yen: I think this bull market has further to go, first to 96 and then probably to 100-01.
April Crude: As long as crude does not spend much time above 100 I will stick with my view that it is headed below 70.
April Gold: Support is in the 1530-50 zone lows of this trading range
May Silver: Support is at 26.00.
Google: Now headed for 950.
Apple: Longer term downside target is 350 and near term support is 390. Meantime resistance above the market is at 480.