S&P…there are only 2 levels of significance: 1321 unchanged on the Quarter and 1290 which is the # we need to close below for an outside reversal month. Closing below these levels and there will be a lot more downside to come.

Currencies..

USD/CAD is sitting on it’s breakdown level..a close here of lower in the futures signals more risk off. ( app 102.40 June Futures) GBP/USD …161.60 is the closing level in the Sterling. ( app 161.50 June Futures) EUR/CHF…there are major stops in this cross below 124. This is the level that the Euro has strengthened from the last big swing low of 129.00.

All Friday stops should still be active ( GTC) good till canceled in the SPU/BONDS,Metals and JJG.