Nikkei…15,210 is our near term upside tgt. Two consecutive days closing over this level will lead to a test of 16,300.

TM..(Toyota)…there are resting buy stops over 128.33-50. This should lead to a test of 134.30. This is a surrogate Yen trade plain and simple. As the yen devalues this will continue to rally.

Given our very long term Yen tgt’s based off swing counts we’re measuring from 1985,
we do not think it unreasonable to see TM into the high 170’s.

JPM…those of you that bought JPM yesterday, the initial buy stops are above 50.63 leading to a test of the 2007 high
of 53.25.

Crude Oil..breaks down under 94.60 on the Point & Figure chart for lower retests.

AUD/USD…after failing at parity to the dollar last night, 98.70 is the next lower test.

DXY…the June dollar index futures look good. This shows the U.S. Dollar is strong against a basket of world currencies,
a trend we see going into the fall.

General Comments or Valuable Insight

Today I am interested in the July (N) Soybeans. Specifically we’ll be monitoring any weakness into the Chicago pit opening today around the 14.10-12 level for a hold. We’re looking for a low risk area to buy the beans for a 60-70 cent trade.

JJG…50.40-45 is the level to watch. A hold here and we can see the beginnings of a rally. A failure @ 49.80 will mean the pattern has broken down and we’ll have to wait for another opportunity.

Short Term View…

Use the 4/30/13 closes for your short term pivots in everything!

Less is more. The Equity indices are run by the hot stock or sector of the day.

When U.S. dollars get bought against other currencies those dollars go some where and that somewhere has been the United States of America looking for yield.