Spiders - June S&P E-mini Futures: The e-minis have dropped below 1340 support but I think the market will bounce today from the 1325 level and begin a rally to 1410. I expect to see prints in the 1430-40 range within a couple of months.
QQQ: A rally to 47.50 is underway.
TLT - June Bonds: Resistance is still at 120-20 and I think the bonds are on the way down to 112. I think TLT will drop to 88.
June 10 Year Notes: Resistance is at 120-00. I think the notes are on the way down to 112.
Euro-US Dollar: I still think the euro is heading for 149.00.
Dollar-Yen: It now looks like the low at 95.76 will hold. Next upside target is104.00. Support is at 99.00. T
XLE - OIH - USO – May Crude: Crude is hovering a little below 112.50 and I think that level will prove to be strong resistance. The next significant development should be a drop into the $85-90 range.
GLD - June Gold: The market should be headed for the 750-80 range. Resistance is still at 940.
SLV - May Silver: It looks like the silver is headed for 15.50 or so. Resistance is at 1840.
Google: Google now has support at 440 and I think a big move upward is underway. Next short term upside target is 515.