Spiders - June S&P E-mini Futures: I think this market is on its way to 1410 and eventually to 1430-40 in a month or so. My e-mini stop is at 1342, below the ½ retracement for the rally from 1325 and below yesterdays gap open. Support now is at 1350.
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 now looks like the euro is about to step up into the 1.61-1.62 zone, but I also think that the market is at strong, long term resistance and that the next move will be downward to 1.40.
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 close well past the 112.50 level so I think 119.00 will be the next stop.
GLD - June Gold: The market should be headed for the 750-80 range. Resistance is still at 940 even though the market move above that level yesterday.
SLV - May Silver: It looks like the silver is headed for 1550 or so. This morning’s high at 1875 will probably mark the end of the rally from 1632.
Google: Google has support at 440 and I think a big move upward is underway. Next short term upside target is 515.