Spiders - June S&P E-mini Futures: The market is getting close to the short term upside target at 1390. The early February top was 1400 and I think we shall see at least one substantial reaction from a temporary high in the 1390-1400 range before the market moves into the 1430-50 range.
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 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: I think a break of at least $20 has begun. Downside target is 90.00.
GLD - June Gold: The market should be headed for the 750-80 range. Resistance is at 940.
SLV - May Silver: It looks like the silver is headed for 15.50 or so. Resistance is at 1840.
Google: Google still has support at 420 and I think the next big move will be upward. Short term upside target is 490.