Stocks..

GOOG…closing over 884 will keep this firm
AAPL… closing over 445 will be positive.
BAC…13.50 is the closing upside pivot.

Spu’s…needs back under 1632-33 for further set backs.
Maintaining and closing over 1645 is price positive.

SPY…maintaining and closing over 165.10 is needed for another move higher.
Closing under 163.60 will put this back on the defensive.

Nikkei…13,500 is resistance and the closing upside pivot.

DAX…put in a daily ORH pattern on Friday. Maintaining over 8300 is positive.

Bonds…

30 yr….141 “Sept” 142 “June” remain key closing resistance going into month end.
Only closes above these levels will put the Bonds into profit taking mode.

FX…

USD/JPY…99.37 (100.60-70 June Futures) will come back into play as a go or no go level. That was the level that held just before we did a day and a half trip to 95 USD/JPY, which is and remains the qrtly pivot.

Commodities…

Oil…is at the upper end of a flag formation on a qtrly chart.
96.15 is your short term pivot to key off. 97.25 is qtrly resistance with buy stops
resting over 98.25-35, which is also the channel line.

These upper levels will not change between now and the end of the qtr.
Daily support comes in around 94.30

General Comments or Valuable Insight

Equities will be a game of finding the beaten up names.
The 18 day mvg avg’s will be telling in individual instruments.

It’s a level that will act as a short term pivot in pretty much whatever you’re looking at.

The Oil & Natgas names will have my attention over the next couple of days.
We’ll look here for opportunity with a continued risk on board.

This is shaping up to be a big trade back and forth for the next couple of weeks where buying rallies or selling breaks will be hazardous to your bottom line.

Patience…if you don’t get a trade on your terms don’t chase it.

Note…we always write a stop with any instrument we‘re interested in. As the instruments become profitable those stops should be raised to your entry level so you don’t lose money.

Short Term View…

Use the Chicago openings to help guide your trading.

Given the price action late last week in the Equity indices, short term breaks will find
willing buyers.

Trade the market on your terms and at the # sets. Don’t worry about missing a trade.