Financials: Bonds are currently 9 lower at 118’12, the 10 Yr. Notes 8 lower, the 5 Yr. Notes 4 lower and the 2 Yr. Notes 1 lower at 108’26. The Dec. Eurodollars are 3 lower at 98.975. We remain short the 2 Yr. notes and the Dec. Eurodollars. Keep in mind that Friday is first notice day for June contracts and you should roll June positions into the Sept. contract.
S&P's: June S&P’s are currently unchanged at 909.00. Yesterday’s release of the Conference Board Consumer Confidence Index at 54.9 from the prior month’s 40.8 was quite a bit above the markets expectation of 43.0, pushing the market into the 908.00-914.00 resistance level. I am once again looking to trade this market from the short side on rallies. Near term resistance is in the 914.00 area and longer term resistance at 929.00. Support is currently at 886.00 for the short term.