The USDJPY breaks out as stocks to trim Zone control

"The market (S)" aka "RISK" instant - closes 60 minutes

Prepared by Jamie Saettele, CMT
SPX 500 - bars of every day

Prepared by Jamie Saettele, CMT
We are just 1 day away in our proposed trim window. "The decline of the high April consumed in 43 days... corrective rallies tend to consume 1/3 - 1 / 2 of the time which made the decline." In other words, one would expect the rally of bass to take 14 to 21 days. Projected from the bass 6/4, we get a possible trim dates 6/22-7/3. »
Spy ETF - daily candles

Prepared by Jamie Saettele, CMT
The rally of the bass in SPY traced about 61.8% of the decline from April high. At this time, keep an eye on the string that defines the advance of the 6/4 bottom of support and resistance. A fall below Monday to 133.28 low suggests that the top is in place. Until then, the respect for the potential to the void left open in early May to 138.99 (crosses the resistance of the channel tomorrow). It is noted that the RSI is pressing against 60, which is often a resistance in a bear trend. The DJIA and S & P 500 Index have already reached their setbacks to 61.8%. A look at the intraday patterns suggests that dip of yesterday may have composed wave 4 C (or part of the wave of C). 4 waves are often difficult (complex) they occur before the final assault that results in a reversal of the situation. Decreased by about 100 points yesterday closing Dow would result in a test of the 38.2% of the 3rd wave and Intraday rally tracing 6/18 low pivot little less 12730 (see following table).
DJIA - 30 minute bars

Prepared by Jamie Saettele, CMT
Australian Dollar futures - Minute 240 Bars

Prepared by Jamie Saettele, CMT
As I mentioned last night on Twitter (@ JamieSaettele), volume on futures of Australian Dollar (CME) in the upper part was the highest since the bottom price on 6 and 1. Go back more than once that volume it was high for an hour 4 period was high and low on 04/10/11 (which resulted a high short term that has taken the time to develop) on 11/30. Volume of this magnitude is indicative of a "washing".
USDJPY - Minute 240 BarsPrepared by Jamie Saettele, CMT
Seq. bull USDJPY appears to be underway. Risk on long may be moved to 7860 (from 7765) and 7980 is now. We are in what may be the interim resistance but the first real test will come near 8075.

S Moody Places largest US banks under control

Moody's Investors Service has warned more than a dozen of America and the largest banks of Europe with important global capital markets operations it has been put under review for possible downgrades. Large US banks Moody under the control of possible downgrades were Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley.
Moody warning came on the heels of a warning prior to more than 100 European banks that they could also be downgraded. Although several global European banks such as Deutsche Bank and HSBC Holdings have been targeted by the previous downgrade warning, the warning later addressed the negative factors which were only confronted by banks with global capital markets operations.
Warnings of the downgrade reflect the more difficult environment that big banks are after a financial crisis which has seen many of them receive the support of the Government. Regulators are watching the activities of banks and banks will find it more difficult to receive support from the Government if an economic crisis, in part because of public anger on issues related to the last round of bail-out banks.
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