Sp, monthly
Near term - in terms of the daily cycle, we are due a wave'2 up, that should last at least a couple of weeks, with a target of around 1350/70. I'd still guess we close June in the low 1300s though, and that sets up July for a move into the 1100s. Whether July is the low, or we see a few months of chop (much like summer 2010)..we'll just have to see.
Regardless, the outlook remains very bearish on a multi-month basis
Thats all for today...
Goodnight