Oil…92.05 shows a double bottom on the bar chart with stops below.91.72-82 is moving avg & Point & Figure support. 91.16-35 is the first place to look for a bounce.

USD/JPY…97.00-05 is the next to watch for market tone. “103.05 in the Yen futures” now shows a double top from yesterday. Electing the buy stops above this level should give way to 96.25 USD/JPY  ( app 103.85 In the June Futures) This = app 101.83 FXY…

Euro…is electing weekly buy stops above 132. Sustaining and closing above 132.20 can leave way for another 100 points.

GDX…put in an ORH daily pattern yesterday. This needs a close over 30.92 for upside confirmation. A close below 29.50 will negate the pattern.

Gold…needs above 1485 to show signs of more upside on the short term charts.

Spu’s…1608 +- a couple is the next measured short term tgt., however we will be watching for any new high to reject and reverse today.

General Comments or Valuable Insight

The Russell 2000 is the weakest looking of the Indices. This is the instrument that has failed to make new highs on the qtr. 95350 is the level we’ll start monitoring as our go or no go level.

It’s the Mid-Week shuffle with the FED this afternoon and the ECB tomorrow.
Now you have a catalyst as well as the right days of the week for some gut wrenching price action.

Short Term View…

Use the 4/30/13 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 for general review.