Spu’s.. call me a reluctant Bear, we have to go 1544 sellers to break.

30 yr Bond...P&F resistance started at 145.22 yesterday which gave us initial price rejection, however we’re only concerned with the bigger macro areas which we laid out late yesterday.

Euro…sell stops are 127.52 which can lead to a test of 126.70.
129.00 is first resistance.

AUD/JPY..99.60 is Point & Figure resistance. Price action here will dictate the next swing.

Yen…104.38 is the close this year. This will be support for now. 96.00 USD/JPY

Silver…26.38 is next. Macro sell stops are @ 26.07.

Platinum…has the ugliest weekly chart pattern going. Resting sell stops are 1515. This level can be a Bear Trap.
That simply means you have to let the market reveal itself at this level.

Gold…can trap the shorts in mid the 1520’s the first time down. Sustaining below this level can lead to another
big leg down.

XLF…needs sustained price action below 17.80 for lower.

XLP…sustained price recovery over 39.85 is needed for bottoming

XLU…the utilities look vulnerable, only a close above 39.15 can negate the pattern.

XHB…28.15 is the trend level in the Home Builders. Sustained price action below can lead to a good sell off.

XLV…closing below 46 means the party is over here. Then look for lower retraces.

XLK…29.78 is the closing level to monitor here.

XLI…has another one of those negative candle patterns everyone was looking at yesterday,
however this still has to close below 40.80 for a bigger retrace.

SMH…sustaining under 33.83 is needed for a test of 33-32.80

IBB…needs to close over 160 to start up again.

KKR…sustaining below 18.20 can lead to another 5% sell off.

BAC…11.70 will be a pivotal level.

Goog…802 is pivotal. New price action above 816 is needed for higher.
793.30 is first support, however if this level is given we’re looking for another 30 dollars.

General Comments…

Japan is obviously leading the show. We’ll be monitoring the Nikkei to see how it holds this rally.
It’s a 24 hour world and you can’t be awake for everything.

Most of what I wrote was last night before the Japan news. The picture we painted showed everything was
at pivotal levels that had to hold for the market to continue up.

We’ll take a closer look at the metals in a while. The lows in the Platinum & Gold can hold for a bounce.

Short Term View…

It’s the first days of a new qtr., use the 3/28/13 closes for your short term pivots in everything!

Medium Term View…the qtrly update is out. This update is provided exclusively to current subscribers and will not be posted on our site until mid-June.

FYI…Anytime you wish to look up levels, go to the website (Click on Pro Tips…add the instrument you are looking for in the box…)
Everything I’ve written for the Month will appear.