FOR THURSDAY: (5/10) We have a bias toward strength and bullish energy the next few days for many markets so we see no reason to top-pick stocks or crude. Gold and silver will be the victims and we need to find a way to get into the dollar.
JUNE E-MINI S & P 500
S & P ANALYSIS FOR THURSDAY: (5/10) We were skeptical that 2700 would come in today, which is why we didn’t put new orders in. Resistance is up to 2708 for a minimum completion with an extended target to 2742. The way patterns look, the extended target should easily come in as the market looks like it is telescoping. We’re long with SSO on our ETF Timer at least but futures got stopped on Tuesday on the CNN false report about keeping the accord.
CYCLE SYNTHESIS: Higher into May 11.