Spiders - June S&P E-mini Futures: The market has reached the 1430-40 zone and I think yesterday’s late break is the start of a drop that will carry the market down into the 1350-75 range. From that upcoming low I expect to see a rally which will take the S&P’s to 1500.
QQQ: I think a drop to support at 46.50 is imminent.
TLT - June Bonds: I think the bonds are on the way down to 112. Resistance is at 117-28. I think TLT will drop to 88.
June 10 Year Notes: I think the notes are on the way down to 112.
Euro-US Dollar: The weakness late last week means that the market is about to drop to the 140 level. Resistance is at 158.00.
Dollar-Yen: The yen is headed for 112.00. Support is now at 101.15.
XLE - OIH - USO – July Crude: A close above 127.50 will make move up to 136 very likely.
GLD - June Gold: The market should drop into the 750-80 range. Resistance is at 915.
SLV - July Silver: It looks like the silver is headed for 1550 or so.
Google: I looks like Google will probably drop to 515 or so before resuming its uptrend.