June S&P Futures: The market hit the 1256 target early this morning and has since rallied to 1266. The drop from yesterday’s high at 1283 does not have a three phase look so I expect the market now to bounce off of resistance near 1269 and then drop to 1250 or so. From there a rally to 1295 should commence.
June Bonds: The bonds are on the way down to 106-00. Resistance today is 107-00. Over the next few weeks the market should reach the 110-111 zone.
June 10 Year Notes: The notes should soon reach support at 105-04. Resistance today is 105-20. Over the next few week I expect the market to rally into the 107-108 zone.
Euro-US Dollar: The 129.20 level is resistance and the short term trend has turned downward once more. A break to 126.30 and eventually lower is underway.
Dollar-Yen: The yen is now on its way to 113.60. The market is preparing for a move up to 130.
July Crude: The market has begun a breaks which should carry to 66.50 before another rally starts.
June Gold: Gold is still likely to rally to 675 before another break starts. Downside target over the next few weeks remains the 2 and 1/8 multiple of the 252 low which stands around the 535 level.
July Silver: Silver now appears headed for resistance around the 13.70 level. After that the market should drop to 1100.
Google: I think Google will hold the low at 360 and rally to 410.