June S&P E-mini Futures: I expect a day session range of about 25 points today with a high near 773 and a low near 748. It is likely that the next 40-50 point move from here will be downward, but I also think the market will reach the 840 level in a few weeks.
QQQ: The 26.00 level is still support and I think the Q’s have started a move to 35.00.
June Bonds: I think the long term trend in the bond market is now definitely downward. Next downside target is 117.
June 10 Year Notes: I think a bear market in the notes is underway. Next downside target is 118.
Euro-US Dollar: The euro is headed down to 122.50. Resistance above the market is at 130.50. If this is broken substantially the market will probably head for the 141.00 level.
Dollar-Yen: The yen has nearly reached the 100.00 level. There is as yet no indication that the move up from 87.00 is over, so I now estimate that the yen will reach 104.00 before a substantial reaction begins.
April Crude: The 30-35 zone is long term support. The 50.00 level is resistance. I think the market has started to stabilize.
GLD – April Gold: I think the market is now headed below 700. Resistance above the market is at 945.
SLV - May Silver: Silver is still holding 1240 support but I think this level will soon be broken. If it is the market will be on its way below 800.
Google: I think that its drop from 747 is over. Support is at 290. Next upside target is 410.