Weekly S&P 500, Gold, and Oil Trends (USO, GLD, SPY)

CME - S&P 500 INDEX CASH– (JUNE) Daily Near Term Trend: Positive to Neutral Wednesday's Close: 1385.14 (- 5.70) Ways to Play this:

• SPDR S&P 500 SPY
• ProShares Ultra S&P 500 SSO
• ProShares UltraShort S&P 500 SDS
• ProShares UltraPro S&P 500 UPRO

UPDATE: Four weeks ago, we stated, “If the market approaches the 1410.00 region I would expect that area to be the upper limit of this move, and a retrace toward 1360.00 to follow”. Subsequently, the market collapsed once it hit just above 1410.00, and then retraced down to 1358.00, before bouncing higher. We have been pretty much spot- on. In addition, I stated I would short the Index on a daily close below 1388.00- not before. We did that on April 9th as the market settled at 1382.00. We are currently short with a daily stop close only at 1402.40. NYMEX - CRUDE OIL (June) - Daily Near Term Trend: Neutral to Negative Wednesday's Close: $103.36 (+ $.24 cents) Ways to Play – SPDR Gold TRUST GLD UPDATE: Over six weeks ago, we were clear in stating, “We still believe since a weekly settlement above $108.40 has not been posted we could see Crude retrace back toward $100.00”. The price retraced to a low of $101.22, last week. Although a bounce above $105.00 took place three days ago, this market is still struggling for now. NYMEX - GOLD – Daily Near Term Trend: Negative Wednesday's Trade: $1,642.10 (+ $3.30) Ways to trade - United States Oil Fund USO UPDATE: Six weeks ago, as the market was trading near $1,710.00, we stated, “Overhead at $1,740.00 could hold, as the market could continue to retrace toward $1,635.00”. Since then, the low has been $1,612.40. Three weeks ago, we clearly stated, “The challenge will be near term resistance at current levels, up to $1,694.00- resistance at the blue M.A. Line”. We were on point as the high following that statement was $1,697.00, as the market stalled and was hammered once again. & volatility has died. support $1,600.00 is key

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